Cairo – Mubasher: The board of Egyptian Financial Group Hermes Holding (EFG Hermes) has approved a capital raise to EGP 5.83 billion from EGP 4.86 billion via a bonus share distribution.
The company will issue one share for every five shares, financed by retained earnings, according to a bourse filing on Thursday.
It is noteworthy to mention that in 2021, EFG Hermes achieved a 12% year-on-year (YoY) growth in net profit after tax and minority interest to EGP 1.5 billion last year.
