Cairo - Mubasher:The extraordinary general meeting of International Business Corporation gave go-ahead to raise the company's capital by EGP 4.3 million to EGP 24.3 million through issuing 868,000 bonus shares.

The capital hike will be financed through deferred dividends and general reserves for the year ended December 2014, while it will be effected through the distribution of bonus shares at 0.217 to 1.

The company reported net profits of EGP 2.11 million for the first nine months of 2015, up from EGP 1.81 million a year earlier.