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EGX approves Porto Group capital hike

EGX approves Porto Group capital hike
Porto will raise its capital through the distribution of bonus shares
ARAB Developers Holding
ARAB
-2.04% 2.40 -0.05

Cairo - Mubasher: The listing committee of the Egyptian Exchange (EGX) has approved raising both the issued and authorized capital of Porto Group Holding from EGP 455.9 million to EGP 501.5 million through the issuance of bonus shares.

The company’s general assembly approved in March increasing capital by EGP 45.59 million, through the distribution of bonus shares at 10%.

Back then and during the same meeting, it was also decided to transform part of the group capital to global depository receipts (GDRs).