Cairo-Mubasher: Elsaeed Contracting and Real Estate Investment Company said its board of directors approved a bonus share distribution for 2014 at 0.20-for-1.

The board also gave a nod to amending articles of incorporation accordingly.

The company’s authorised capital will be raised to EGP 1 billion from EGP 500 million, while issued capital will be increased to EGP 566.25 million from EGP 471.87 million.

The EGP 94.4 million capital increase will be financed from earnings.