Cairo – Mubasher: The extraordinary general meeting of United Company for Housing and Development approved raising its issued capital by EGP45.31 million through 1-for-3 bonus share distribution.
Accordingly, the company will operate with an issued capital of EGP181.25 million, rather than EGP135.94 million, distributed over 36.25 million shares at a par value of EGP1.25 each, according to a bourse filing.
The company indicated that the top-up will be financed from the real-time earnings as well as FY15 retained earnings.
In 2015, the company’s profits rose 4% year-over-year to EGP36.1 million from EGP 34.7 million.
