The listing committee of the Egyptian Exchange (EGX) approved on Wednesday listing shares of increasing the capital of Development and Engineering Consultants (Tameer) from EGP 215,999,994 to EGP 226,800,000.
The EGP 10,800,006 increase, divided into 771,429 shares at EGP 14 par value each, will be financed from FY13 earnings.
Shareholders of record till the close of trading on Wednesday, November 5 will be entitled to the bonus share distribution.
The company decided to increase issued capital from EGP 215.999 million to EGP 226.800 million. The EGP 10.800 million increase is divided into 771.429 thousand shares at EGP 4 par value each.
The company had posted consolidated net profit of EGP 18.956 million for H1-14, with 6% growth compared with EGP 17.868 million reported in the same period a year earlier. Q1 net profit increased 25% y/y to EGP 7.1 million from EGP 5.7 million.