Arab Finance: Egyptian Stock Exchange's (EGX) Listing Committee held on June 12 approved listing the issued capital increase of Egyptians Abroad Co. for Investment and Development (ABRD).
The firm will increase the issued and paid capital to EGP 124.4 million from EGP 113.08 million, with an increase amounting to EGP 11.3 million.
The hike will be through issuing 0.10008483873 bonus share for every share. It will be distributed over 4.5 million shares at EGP 2.5 per share.
Shareholders of record are entitled to the distribution until the end of July 2 session. The bonus shares are distributable as of July 3, 2019, while approximating fractions for minor shareholders.
The company's shares will be listed after the capital increase on EGX's database with determining a reference price for company shares as of July 3, 2019.