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Golden Coast shareholders approve capital raise

Golden Coast shareholders approve capital raise
Photo Credit: Company's Website
Golden Coast
GOCO
9.03% 6.24 0.54

Cairo – Mubasher: Golden Coast El Sokhna’s shareholders approved raising the company’s capital through distributing one-for-two bonus shares, according to a bourse filing.    

The company targets increasing its issued capital from EGP 20 million to EGP 40 million by distributing 5 million shares at a par value of EGP 4  a share.

The top-up will be financed from earnings registered in FY15 financial statements for constructing extra eighty hotel units at EGP 55.7 million.

Over 2015, the company gained EGP 7.3 million, compared with EGP 6.2 million a year earlier.