Cairo – Mubasher: The Egyptian Financial Authority (FRA) approved a request to publish the disclosure form of Reacap Financial Investments to increase its issued capital.

The disclosure form included the board of directors’ decision dated 1 March to increase the issued capital by EGP 26.54 million to EGP 557.48 million from EGP 530.937 million through the issuance of one bonus share at a nominal value of EGP 5 for every share held, according to a bourse statement on Tuesday.

The issuance will be financed from the earnings shown in the financial statements for the period ended 31 December 2019.

It is noteworthy that in 2019, the company reported net profits of EGP 18.7 million, down from EGP 67.02 million in 2018, including minority shareholders’ rights.