Cairo – Mubasher: Fawry for Banking Technology and Electronic Payments has received the Financial Regulatory Authority’s (FRA) approval to raise its capital.
The FRA approved the publication of the invitation to shareholders to subscribe to the capital raise, according to a statement to the Egyptian Exchange (EGX) on Tuesday.
The company’s issued capital will be increased by EGP 400 million through the issuance of 800 million shares at a value of EGP 0.50 apiece.
Shareholders eligible for the capital raise subscription are those holding the company’s shares until the end of the trading session on 15 April 2021.
During 2020, Fawry reported net profits of EGP 223.56 million, up from EGP 130.38 million a year earlier, including minority shareholder’s rights.
