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EGX approves listing Speed Medical’s bonus shares

EGX approves listing Speed Medical’s bonus shares
The company will distribute 0.37 bonus shares for every share held
Speed Medical
SPMD
-1.61% 0.43 -0.01

Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee decided to raise the paid-up and issued capital of Speed Medical Company to EGP 71.32 million from EGP 52 million through the issuance of bonus shares.

The company will distribute 0.37 bonus shares for every share held among shareholders owning shares until Wednesday’s trading session, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

Bonus shares will be listed on the EGX starting from the beginning of the trading session on Thursday, 5 March.

Last February, the company’s board approved a proposal to increase the company’s issued capital by 211% to EGP 221.82 million from EGP 71.32 million.

It is noteworthy to mention that during 2019, Speed Medical Company’s net profits grew to EGP 17.09 million from EGP 12.7 million in 2018, including minority shareholders’ rights.