Cairo - Mubasher: Mohandes Insurance Company (MIC) announced increasing the issued capital to EGP 650 million from EGP 500 million.
The EGP 150 million hike will be financed from 2024’s profits and legal reserves, according to a bourse filing.
Meanwhile, the capital raise will be executed through the issuance of 60 million bonus shares, each with a nominal value of EGP 2.50.
It is worth noting that the bonus shares will be distributed to shareholders at a ratio of 0.30 bonus shares per existing share.
Meanwhile, the eligibility and distribution dates of the bonus shares will be on 11 and 12 January 2026, respectively.
