Market is closed

EGX 30 0.00 0.00%

Count Down to relaunch

FRA oks Mohandes Insurance EGP 235M capital increase

FRA oks Mohandes Insurance EGP 235M capital increase

ArabFinance: Mohandes Insurance (MOIN) obtained the Financial Regulatory Authority’s (FRA) approval to increase its issued capital to EGP 235 million from EGP 187.5 million, according to a statement to the Egyptian Exchange on March 15th.

The new raise will be distributed on 19 million shares at EGP 2.50 per share.

Earlier, the company’s board of directors approved raising the issued capital, to be financed from the company’s 2020 profit.

The company’s consolidated net profit stood at EGP 69.43 million in 2020.

The Egypt-based public shareholding company offers life and non-life insurance, and reinsurance products and services. Its products and services portfolio fall into two main insurance segments, namely individual insurance and property insurance.



#Related keywords


Recommended Stocks

11 Oct 2020
Tenth Of Ramadan Pharmaceutica... RMDA

All rights reserved to Arab Finance 2020 ©

Back to top