Dubai – Mubasher: Naeem Holding’s ordinary general meeting (OGM) approved a proposal to increase the company’s capital to AED 883.35 million ($240.5 million) from AED 802.91 million ($218.6 million) through the distribution of bonus shares making up 10% of the capital.
The approval of extraordinary general meeting (EGM) is required to pass the capital increase decision, according to a statement to the Dubai Financial Market (DFM).
Naeem’s OGM also accepted a proposal to permit the board to spend $300,000 in donation during 2018, the Egypt- and Dubai-listed firm revealed.
In March, the DFM welcomed the listing of NAEEM Holding, which brought up the total number of dually listed companies on the Dubai bourse to 16.
