|01 October, 2019

Egypt's EGX approves CI Capital Holding capital hike

The company's capital will be raised to $49.08mln

A trader works at the Egyptian stock exchange in Cairo, Egypt September 23, 2019.

A trader works at the Egyptian stock exchange in Cairo, Egypt September 23, 2019.

REUTERS/Mohamed Abd El Ghany

Cairo –  The Egyptian Exchange’s (EGX) listing committee approved raising the issued and paid-up capital of CI Capital Holding For Financial Investments.

The listing committee decided to list the capital increase shares of CI Capital, which will see the company’s issued and paid-up capital increasing by EGP 255.81 million to EGP 800 million from EGP 544.1 million, the EGX said in a statement on Tuesday.

The capital raise will be made after issuing 0.47 bonus share, at a nominal value of EGP 1, for every share held.

In September, the company’s shareholders approved increasing the company’s capital by EGP 255.8 million through issuing 255.8 million shares to be financed from the bonus reserve as of financial statements of 2018.

It is worth mentioning that during the first half of 2019, CI Capital reported a net profit of EGP 235.24 million, compared to EGP 169.67 million in H1-18.

Source: Mubasher

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