Sabaa International Company for Pharmaceutical Co.’s ordinary general meeting approved to distribute 5 million bonus shares, with a one-for-five share allocation, at a total value of EGP 10 million.

Meanwhile, the company's extraordinary general meeting endorsed an issued capital top-up to EGP 60 million from EGP 50 million.

The capital hike will be carried out through the distribution of 5 million bonus shares at EGP 2 par value each. The bonus issue will be financed from retained earnings.

The company posted net profits of EGP 2.4 million for 2014, compared with EGP 2.8 million for 2013.

Sabaa is capitalised at EGP 50 million, divided into 25 million shares at EGP 2 par value each.