Cairo - Mubasher: The board of Catalyst Partners Middle East has approved a capital increase to EGP 3.01 billion from EGP 235 million.
The EGP 2.78 billion hike is represented by 278.40 million shares at a nominal value of EGP 10 per share, according to a bourse filing.
The new capital will be allocated to Qardy for Software Applications and Catalyst Partners Holding’s shareholders in exchange for their acquired shares.
The move follows the EGX-listed company’s acquisition of 29.99 million shares in Qardy and 4.93 million shares in Catalyst Partners Holding.
Following completion, issued and paid-up capital will stand at EGP 3.01 billion across 301.90 million shares, with fractions adjusted for minority holders.
