Cairo – Mubasher: The extraordinary general meeting (EGM) of MM Group for Industry and International Trade approved a proposal to increase the issued capital to EGP 479.53 million from EGP 383.62 million.
The company’s capital will be raised by EGP 95.9 million through the issuance of 154.68 million shares at a nominal value of EGP 0.63 per share, according to a bourse disclosure on Sunday.
The a 0.25-for-one bonus issue will be financed from the earnings of 2019.
It is worth mentioning that in 2019, MM Group’s net profits grew to EGP 459 million in 2019 from EGP 271 million in 2018.
