ArabFinance: Egyptian Stock Exchange's (EGX) listing committee approved, on Nov. 20, 2019, listing share of issued and paid-up capital increase for Ceramica Remas (CERA). The capital will be increased from EGP 156,250,000 to EGP 179,687,500, with an increase amounting to EGP 23,437,500, distributed over 23,437,500 shares at par value of EGP 1/share.

The company will increase its capital by distributing 0.15 free stock for every existing one held, financed from the shareholders' stake in profit distribution of the fiscal year ending December 31, 2018. The holders and buyers of the share who will be recorded by the end of November -20 trading session are entitled to the stock dividends.

The listing committee added that the capital increase shares, 179,687,500 shares, will be listed on the EGX database starting from the trading session on November 21, 2019.

It is worth mentioning the listing committee also approved listing amending article No. 3 of company statute regarding changing the purpose of the company by adding a new activity.

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