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Alexandria Medical Center gets FRA approval to increase capital

Alexandria Medical Center gets FRA approval to increase capital

ArabFinance:  Alexandria New Medical Center (AMES) got the Financial Regulatory Authority's (FRA) approval to increase issued capital from EGP 105,415,200 to EGP 114,199,800.

On February 7th, AMES’ board of directors approved the capital increase by EGP 8,784,600 distributed over 1,098,075 shares financing from 2019 profit. The company will distribute one free share for each original 12 shares.

The FRA gave the green light to AMES to moving forward in issued capital increase measures, according to provisions of article no. 48 of listing rules.

AMES posted a net profit of EGP 24,712,189 in the financial period 2019, compared to net profits of EGP 24,608,492 in a year ago.

Established in 1983 and listed in 1999, AMES operates within the health care equipment and services sector focusing on health care.

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