Cairo – Mubasher: The board of directors of Fawry for Banking Technology and Electronic Payments approved a decision to increase its issued capital by EGP 400 million.
The capital will be raised to EGP 853.652 million distributed over 1.707 billion shares at a nominal value of EGP 0.50 apiece, the company said in a bourse disclosure on Tuesday.
In March, the Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Fawry to increase its issued capital by EGP 400 million.
During the first quarter (Q1) of 2021, Fawry logged net profits of EGP 85.79 million, compared to EGP 38.04 million in the year-ago period, including minority shareholders’ rights.
