Cairo – Mubasher: The general assembly of Naeem Holding has approved the increase of the company’s issued and paid capital to $264.49 million (EGP 4.583 billion) from $240.5 million (EGP 4.167 billion).
Listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), Naeem will increase its capital through the issuance of 34.35 million shares, according to a bourse statement released on Tuesday.
In March, the ordinary general meeting (OGM) of Naeem approved the distribution of 1-for-10 basis bonus shares to shareholders for the fiscal year 2018.
The investment company posted a 76% year-on-year profit decline for the fiscal year 2018, recording $294,400.
