Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) has approved the request of Giza General Contracting and Real Estate Investment Company (GGCC) to raise its capital from EGP 203.3 million to EGP 244.07 million, through the distribution of bonus shares.

The EGP 40.68 million capital hike will be distributed over 40.68 million shares, with a nominal value of EGP 1 per share, financed through the company’s profits achieved in fiscal year 2017, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.