Arab Finance: The Egyptian Exchange’s (EGX) listing committee has approved listing the issued and paid-up capital increase of EGP 2.603 million for the Arab Development and Real Estate Investment (ADRI), the EGX announced on September 13th.
Accordingly, the issued and paid capital shall increase to EGP 35.135 million from EGP 32.532 million.
This capital hike is carried out via the issuance of 5.205 million bonus shares at a par value of EGP 0.50 per share.
Accordingly, a 0.08-for-1 bonus share will be distributed, with eligibility in distribution for shareholders of a record date on September 13th.
The company’s shares will be listed after the capital increase on the EGX's database with determining a reference price for its shares as of September 14th.