Arab Finance: Mohandes Insurance's (MOIN) extraordinary general meeting (EGM) has approved raising the company's issued capital to EGP 350 million from EGP 300 million via the distribution of 0.1666-for-1 bonus shares, the company stated on January 18th.
The capital will be increased by EGP 50 million at a nominal value of EGP 2.5 per share.
Mohandes Insurance is an Egypt-based company that 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.