TAMEER’s board approves EGP 299M capital raise
Updated 3/14/2021 2:48:00 PM
ArabFinance: Development and Engineering Consultants’ (TAMEER) (DAPH) board of directors approved increasing the company’s issued and paid-in capital to EGP 299.37 million from EGP 249.48 million through issuing 3.56 million free shares at EGP 14 per share, the company said in a statement to the Egyptian Exchange on March 14th.
In February, the company’s board approved the capital increase via issuing 1.78 million free shares.
In April 2020, the company’s extraordinary general meeting approved the capital increase and the distribution of one free share for each 10 held.
TAMEER’s consolidated net profit declined to EGP 18.14 million in 2020, from EGP 47.68 million in 2019.
Established in 1954 and listed on the EGX in 1996, TAMEER operates within the capital goods sector focusing on construction and engineering.
