The securities listing committee of the Egyptian Exchange (EGX) approved on Wednesday a request from Alexandria Pharmaceuticals & Chemical Industries to proceed with increasing authorized capital from EGP 50 million to EGP 100 million as well as issued and paid-in capital from EGP 45 million to EGP 50 million through the issuance of 500,000 bonus shares at EGP10 par value each.
The bonus share distribution will be financed from retained earnings as on 30/06/2014. Accordingly, the company’s total number of shares will increase to 50 million from 45 million.