Egypt Gas announces due date of 24mln free shares

ArabFinance: Egypt Gas stated that the shareholders who recorded on December 9^th, are entitled to stock dividends, according to EGX’s disclosure.

Egypt Gas will issue 24 million shares at a par value of EGP 10 per each financed from project fund reserves. It increased the issued and paid-in capital by EGP 240 million to EGP 480 million.

On November 25^th, the Egyptian Exchange's concerned committee approved listing capital increase shares of the company.

Additionally, the company will increase authorized capital from EGP 500 million to EGP 1 billion.

The company posted a net profit after tax of EGP 9,068,755 in the January-September period of 2020, a 67% decline from EGP 27,812,237 achieved in the prior-year period.

Egypt Gas is an Egypt-based shareholding company engaged in the design, installation, operation, and maintenance of natural gas distribution networks and pressure reduction stations for domestics, commercial, and industrial applications.

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