|18 September, 2019

Egypt CI Capital Holding gets FRA’s approval on $15.68mln capital raise

A total of 255.8 million bonus shares will be distributed

A trader works at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

A trader works at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

REUTERS/Mohamed Abd El Ghany

Cairo – Egypt’s Financial Regulatory Authority (FRA) approved increasing the capital of CI Capital Holding to EGP 800 million from EGP 544.18 million.

The capital raise will be made through distributing 0.47 bonus share for every share held, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

Previously, shareholders of CI Capital Holding 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.

During the first half of 2019, CI Capital Holding logged a net profit of EGP 235.24 million, compared to EGP 169.67 million in H1-18

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities