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Mohandes Insurance to distribute free share for capital increase

Mohandes Insurance to distribute free share for capital increase

ArabFinance: Mohandes Insurance (MOIN) decided to distribute a 0.25 free share for each one held, according to the company’s statement filed to the Egyptian Exchange. 

The company will pay dividends on August 16th to the shareholders recorded on August 15th.

The insurance company will increase the capital to EGP 235 million from EGP 187 million. The capital will be increase by issuing 19 million shares at a par value of EGP 2.50 per each.

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.

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