In a report issued on Juhayna Food Industries Co. Monday, EFG-Hermes said it adjusted its fair value for the stock to EGP10.5/share from EGP14.0/share following the approval of a 1:3 bonus issue by shareholders at the AGM held on 27 March 2014.
Juhayna’s paid-in capital will increase to cEGP941 million from EGP706 million, fully financed through retained earnings, and the number of shares will increase to 941 million shares, from 706 million shares. The ex-dividend date is 7 July 2014, according to EFG.