Arab Finance: Misr National Steel – Ataqa’s (ATQA) decided to issue bonus shares to increase the firm’s capital by EGP 300 million, the company said Tuesday in a statement to EGX.
The company will issue 1 bonus share for every share, to increase the capital to EGP 600 million from EGP 300 million.
The capital hike will be distributed over 600 million shares at EGP 0.50 per share.
Shareholders of record are entitled to the distribution until the end of July 2 session. The bonus shares are distributable as of July 3, 2019, while approximating fractions for minor shareholders.