Cairo – Mubasher: The board of Egyptian Financial Group Hermes Holding (EFG Hermes) has approved to increase issued capital to EGP 3.8 billion from EGP 3.07 billion by distributing a 1-for-4 basis bonus shares of the legal reserve.
It is noteworthy that EFG Hermes’s capital amounts to EGP 3.07 billion distributed over 614.8 million shares at a par value of EGP 5 per share.
The board also agreed on adjusting the Articles 6 and 7 of the company’s main system after the Financial Regulatory Authority had approved an increase of EGP 786.6 million, EFG Hermes said in a filing to the Egyptian Exchange (EGX) on Sunday.
The company last posted consolidated profits of EGP 1.25 billion last year, compared to profits of EGP 1.49 billion in 2016, including minority shareholders’ rights.
