Reacap gets EGX approval for listing capital increase

ArabFinance: The Egyptian Exchange's (EGX) concerned committee approved listing the capital increase of Reacap Financial Investments (REAC), according to EGX's disclosure.

The company will increase the issued and paid-up capital by EGP 26,546,895 from EGP 530,937,870 to EGP 557,484,765.

It will distribute 221,702,423 shares at a par value of EGP 5 per each or 0.50 free share for every one held, the statement highlighted.

The holders and buyers of the shares to be recorded by the end of July 5^th are entitled to dividends.

The capital increase shares will be listed on EGX on July 6^th, EGX's Listing Committee said.

The company incurred a standalone net loss of EGP 750,639 in the first quarter of 2020, against a net profit of EGP 47,750,252 in the prior-year period.

Reacap Financial Investments, formerly Recap Holding, is an Egypt-based company engaged in the provision of portfolio and fund management services.

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