Cairo - Mubasher: The Egyptian Exchange's (EGX) listing committee approved increasing the capital of several listed companies and decreasing the capital of others on Wednesday.
The EGX gave the green light for listing the bonus shares of Madinet Nasr Housing and Development (MNHD), raising the capital to EGP 1.497 billion from EGP 1.44 billion by issuing 0.04 bonus shares for every share held, totalling 57.6 million bonus shares worth EGP 57.6 million.
Moreover, Edita Food Industries obtained the EGX's approval to list the shares of its capital after being reduced to EGP 144.61 million from EGP 145.07 million by cancelling 2.3 million treasury shares with a nominal value of EGP 460,892.
The EGX also approved the listing of the capital raise shares of the National Bank of Kuwait-Egypt (NBK-Egypt). The bank will increase its issued and paid-up capital to EGP 5 billion from EGP 1.5 billion through the issuance of 350 million shares at a nominal value of EGP 10 apiece at a rate of 2.3 bonus shares for every share held.
The authorised capital of NBK Egyp will be increased to EGP 10 billion from EGP 2.5 billion.
The capital raise shares will be listed on Monday, 26 July.
Additionally, the EGX also approved cutting the authorised capital of Egypt for Poultry to EGP 425.7 million from EGP 946 million and the authorised capital of Cairo Oils and Soap to EGP 975 million from EGP 1 billion.
