Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved raising the capital of Zahraa Maadi Investment and Development to EGP 132 million from EGP 99 million through bonus shares.

The eligibility of bonus shares shall be for the shareholders registered until the end of trading session on 18 August, the EGX said in a statement on Sunday.

The company’s bonus shares will be listed on the Egyptian bourse as of the beginning of trading session on 19 August, the statement added.

Zahraa Maadi decided to increase its issued capital to EGP 132 million from EGP 99 million through issuing 33 million shares at EGP 1 apiece.

During the first half of 2019, the real estate firm logged a net profit of EGP 58.7 million, up from EGP 56.3 million in the year-ago period.