Cairo – Mubasher: The board of directors of Nozha International Hospital approved a decision to increase its authorised capital to EGP 525 million from EGP 90 million.
The board also approved a six-for-one stock split, cutting the stock’s nominal value to EGP 1 from EGP 6, the company said in a bourse disclosure on Tuesday.
In addition, the board decided to raise its issued and paid-up capital to EGP 105.46 million from EGP 84.375 million through the issuance of 21.09 bonus shares at a value of EGP 21.09 million.
Shareholders will receive a 0.25-for-one bonus issue to be financed from the retained earnings amounting to EGP 102.88 million as of the financial results for the period ended on 31 December 2020.
In 2020, Nozha International Hospital reported net profits of EGP 49.6 million, down from EGP 60.5 million in 2019.
