Cairo – Mubasher: Sarwa Capital Holding for Financial Investments has spent EGP 639.2 million of its EGP 700 million subscription returns at the end of 31 December.
The consumer finance provider spent the amount on financing its expansion, according to a bourse statement released on Thursday.
Earlier in March, Sarwa’s board of directors approved a capital increase through the issuance of 28 million shares with nominal value financed by retained earnings.
The Egypt-listed company reported a 51% profit hike during the full-year 2018, with EGP 283 million in net profit, from EGP 187 million in 2017.
