Cairo - Mubasher: The board members of Al Fanar Contracting, Construction, Trade, Import and Export Company approved increasing its issued and paid-up capital to EGP 32 million from EGP 16 million through the distribution of bonus shares.
The EGP 16 million hike amount will be financed from the company’s 2025 retained earnings, according to a bourse filing.
Meanwhile, the increase will be implemented through the issuance of 16 million bonus shares at a nominal value of EGP 1 per share.
It is worth noting that the bonus shares will be distributed to the shareholders at a ratio of one bonus share for every existing share.
Following the transaction, the company’s total number of shares will rise to 32 million from 16 million shares.
