Cairo – Mubasher: The Egyptian Exchange (EGX) said that Giza General Contracting and Real Estate Investment Co has submitted the documents required for increasing its authorised and issued capital.
Giza General Contracting considers raising the authorised capital to EGP 1 billion from EGP 300 million, according to a recent bourse disclosure.
The EGX-listed company also plans to raise the issued and paid-up capital by EGP 48.81 million to EGP 292.89 million from EGP 244.07 million.
This capital hike value will be distributed on 48.81 million shares at a nominal value of EGP 1 each to be distributed as bonus shares as 0.19999999836 for each original share in the capital before the increase; this will be financed from the profits of fiscal year 2018 as well as the retained earnings as on 31 December 2018.
