ArabFinance: The Egyptian Stock Exchange (EGX) approved listing 1,335,085,200 shares of Madinet Nasr Housing & Development's (MNHD) capital, after increasing issued and paid-up capital, on its database on Feb. 27.
The EGX ratified listing the capital increase shares of MNHD. The company will increase its capital from EGP 111,257,100 to EGP 333,771,300 with an increase amounting to EGP 222,514,200.
The increase will be financed from the retained profits by distributing two free shares for every existing one held according to the financial results for the financial period ending June 30.
The shareholders recorded on Feb. 26 are entitled to get two free stock for every existing one held.
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