Cairo – Mubasher: Elsaeed Contracting and Real Estate Investment Company said Thursday that its board of directors recommended distributing 1.75-for-10 bonus shares, according to a bourse filing.
The distribution will be financed from FY15 profits as well as the retained earnings and reserves, the company added.
Further, the board called the shareholders to convene for looking into increasing the company capital from EGP 566.25 million to EGP 665.34 million through issuing 99.09 million bonus shares.
Earlier, the shareholders approved raising the company’s issued capital to EGP 651.18 million, distributed over 84.84 million shares at a par value of EGP 1 each.
On Thursday, the stock quote rose by 1.15% to EGP 0.88, registering a trading value of EGP 1.4 million.
