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Mohandes Insurance OGM approves capital hike to EGP 150M

Mohandes Insurance OGM approves capital hike to EGP 150M

ArabFinance: Mohandes Insurance Company’s (MOIN) ordinary general meeting (OGM) approved increasing issued capital by EGP 29 million, to reach EGP 150 million up from EGP 121 million, according to a bourse filing Wednesday.

The capital hike will be financed from the company’s general reserves (EGP 28.8 million) and deferred profits (EGP 200,000). The increase shares will be distributed as bonus shares at 0.2397:1.

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