REACAP’s EGM nods to capital increase

Updated 5/16/2024 1:59:00 PM
REACAP’s EGM nods to capital increase

Arab Finance: 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, as per a filing.

Accordingly, the capital will be raised to EGP 591.412 million from EGP 551.985 million through the distribution of 1-for-14 bonus shares.

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.

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