Cairo – Mubasher: Madinet Nasr Housing and Development will raise its capital by EGP125 million through 0.33-for-1 bonus share distribution financed from FY15 profits.
The company's ordinary general meeting approved Tuesday the capital top-up to EGP500 million from EGP375 million, amending articles 6 and 7 related to the top-up action, said Madinet Nasr Housing in a bourse filing.
In December 2015, the company gave the green light to raising its issued capital to EGP375 million by distributing 0.5-for-1 bonus share financed from FY14 profits.
In 2015 as well, the company registered a consolidated net profit of EGP245.4 million, compared to EGP213.2 million in 2014.
