Cairo – The extraordinary general meeting (EGM) of Arab for Development and Real Estate Investment (ADRI) has approved an increase in the issued and paid-up capital to EGP 32.53 million from EGP 29.57 million via bonus shares.
The capital will be distributed over 5.91 million shares at a nominal value of EGP 0.50 per share, according to a bourse filing on Sunday.
The company will increase the capital through a bonus share distribution of 0.1 shares for every one share, aggregating at a total value of EGP 2.95 million.
It is noteworthy to mention that during the first nine months (9M) of 2021, the company's net profits retreated to EGP 1.21 million from EGP 1.87 million in the year-ago period.
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