Cairo – Mubasher: Elsaeed Contracting and Real Estate Investment Company SCCD said its ordinary general meeting approved the distribution of bonus shares at 1.75 to 10.
The bonus shares distribution comes in the frame work of the company’s capital increase from EGP 566.25 million to EGP 665.34 million, up by EGP 99.09 million distributed across 99.09 million shares at EGP 1 par value each.
Earlier, the company said it will use the proceeds of its capital increase to buy equipment to implement projects, in addition to buying a land plot for EGP 50 million in order to expand its real estate investment activity.
