Mohandes Insurance reveals free shares for capital increase

ArabFinance: Mohandes Insurance Company (MOIN) decided to distribute a 0.25 free share for each one held, according to the company’s September 15th statement filed to the Egyptian Exchange.

The company will pay the dividends on October 1st to the shareholders recorded on September 30th.

The listed company has intended to increase its issued capital to EGP 150 million, marking a rise by EGP 37.5 million distributed on 15 million shares.

The capital raise will be financed from the specific reserve and the retained profits on September 30th 2019.

Mohandes Insurance increased the investment plan for FY 2020/2021 to EGP 870 million aiming to achieve a net return of investment of EGP 130 million.

The Egypt-based company is engaged in the insurance sector. The company offers life and non-life insurance, and reinsurance products and services. Its products and services portfolio falls into two main insurance segments, namely individual insurance and property insurance.

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