Cairo – Mubasher: The ordinary general meeting (OGM) of Zahraa Maadi Investment and Development has approved an EGP 264 million increase in the issued and paid-up capital to EGP 528 million.
The company will finance the capital raise from the 2020 retained earnings at one bonus share per each original share, according to a bourse filing on Tuesday.
Meanwhile, the extraordinary general meeting (EGM) has agreed on raising the authorised capital to EGP 1 billion from EGP 300 million.
It is noteworthy to mention that during the first nine months (9M) of 2021, the company recorded EGP 211.01 million net profits, up from EGP 128.5 million in the year-ago period.
