Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved a request to list the shares of the capital increase of MM Group for Industry and International Trade to EGP 479.53 million from EGP 383.62 million.
The company’s issued and paid-up capital will be raised by EGP 95.9 million through the issuance of 154.68 million shares at a nominal value of EGP 0.63 per share, according to a statement on Sunday.
The 0.25-for-one bonus issue will be financed from the shareholders’ earnings in 2019.
The record date on is on 26 July, while the listing date is on 27 July.
It is worth mentioning that during the first quarter of 2020, MM Group reported net profits of EGP 106.64 million, down by 25.4% from EGP 142.97 million in the year-ago period, including minority shareholders’ rights.
