REACAP Financial Investments (REAC) has approved a capital increase of EGP 47.3 million through the distribution of bonus shares.

REACAP Financial Investments’ (REAC) extraordinary general meeting (EGM) has greenlit increasing the issued and paid-up capital by EGP 39.427 million distributed over 7.885 million shares at a nominal value of EGP 5 per share.

REACAP Financial Investments (REAC) registered a 35.7% year-on-year (YoY) drop in consolidated net losses attributable to the holding company during the first quarter (Q1) of 2024, hitting EGP 11.249 million, compared to EGP 17.486 million.

Established in 1997, the company, in which Naeem Holding owns a stake of 47.61%, provides asset management services such as fund, wealth, and portfolio management, as well as direct investments in various sectors.

Reacap Financial Investments Company’s extraordinary general meeting (EGM) endorsed cutting the firm’s issued and paid-up capital by writing off 1.1 million treasury shares at a nominal value of EGP 5 per share.