Arab Finance: MM Group for Industry and International Trade (MTI) has increased it issued capital by EGP 149.853 million to EGP 749.27 million from EGP 599.41 million, according to an emailed press release on August 7^th.

The capital hike was done through the issuance of 241.7 million bonus shares at a par value of EGP 0.62 per share.

The increase will be financed from the retained earnings as per last year’s financial statements.

Also, the firm will distribute 0.25 bonus share for every 1 share on August 23^rd with an ex-dividend date of August 24^th.

MTI is one of the leading distribution companies by geographic coverage in Egypt, with access to more than 40,000 points of sale.

The Egyptian joint stock company operates in a wide range of businesses, including consumer electronics, telecommunication, automotive, seamless pipes, and tractors through partnerships with leading global brands including Samsung, Vodafone, Huawei, Range Rover, Jaguar, Maserati, Bentley, Carrier and Bosch.

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