Arab Finance: Cairo Development and Investment - (CIRF) decided to increase authorized capital from LE20 million to LE250 million.
Moreover, it decided to increase issued capital from LE 20 million to LE 50 million, with increase amounting to LE 30 million.
Capital hike will be funded from shareholders’ stake in cash dividends according to 2014 financial statements.
The capital increase will be through 1.5 free stock for every existing one held before increasing capital to shareholder as of record on Thursday June 24, 2015, and the free stocks will be distributed on June 25, 2015.
Source: AlBorsa newspaper & Arab Finance editor