The securities listing committee of the Egyptian Exchange (EGX) approved the listing the shares of increasing issued capital of North Africa Real Estate Investment (NOAF) from EGP 25 million to EGP 34.375 million.
The EGP 9.375 million increase, divided into 46.875 million shares at EGP 0.20 each, will be financed from FY13 dividend.
Shareholders of record till the close of trading on Wednesday, December 3 will be entitled to the 0.375-for-1 bonus share distribution.
The company had posted a drop by 38% in H1-14 net profit to EGP 5.8 million, from EGP 9.3 million in the corresponding period a year earlier.
Q1 financial results had shown EGP 2.6 million net profit, with 9% growth year-over-year from EGP 2.4 million.
FY13 net profit had amounted to EGP 7.6 million, compared with EGP 2.6 million a year earlier.