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Madinet Nasr Housing to raise capital, distribute bonus shares

Madinet Nasr Housing to raise capital, distribute bonus shares

ArabFinance: Madinet Nasr Housing and Development (MNHD) will increase issued and paid up capital to EGP 1.44 billion from EGP 1.2 billion, with an increase amounting to EGP 240 million, as per a Tuesday bourse filing.

The capital hike will be distributed over 240 million shares at EGP 1 per share, to be financed from FY 2018 profits and deferred earnings.

Moreover, the company will distribute 0.2 bonus share for every one original share, while approximating fractions for minor shareholders.

Shareholders of record until the end of June 9, 2019 are entitled to the bonus shares which will be distributed on June 10, 2019.

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