Cairo – Mubasher: Elsaeed Contracting and Real Estate Investment Company’s ordinary general meeting (OGM) agreed to distribute bonus shares to raise the issued capital and write off the remaining incentive stock.
The OGM approved to reduce the issued capital from EGP 665.34 million to EGP 665.29 million via writing off 46,600 incentive stock with a nominal value of EGP 1, according to a bourse filing released on Thursday.
Furthermore, shareholders voted for increasing the capital after the write-off to EGP 709.65 million via distributing 44.3 million bonus shares.
The stock rose on Wednesday by 1.37% to EGP 0.74.
