Cairo – Mubasher: United Company for Housing and Development’s ordinary general meeting (OGM) has approved to raise its capital via distributing 0.25 bonus share for each ordinary share.
The raise will be financed from retained profits and profits of fiscal year 2016, a bourse filing said on Thursday.
The extraordinary general meeting (EGM) has agreed to increase the issued and paid-up capital from EGP 181.2 million to EGP 226.5 million.
Thus, the capital will be increased by EGP 45.3 million distributed across 36.2 million bonus shares with a par value of EGP 1.25.
