Cairo – Mubasher: The Egyptian Financial Authority (FRA) approved a request to publish the disclosure form of Zahraa Maadi Investment and Development to increase its issued capital.

The disclosure form included the board of directors’ decision dated 10 February to increase the issued capital by EGP 132 million to EGP 264 million from EGP 132 million through the issuance of one bonus share for every share held, according to a bourse statement on Tuesday.

It is noteworthy that in 2019, the company reported net profits of EGP 177.08 million, up from EGP 152.56 million in 2018, including minority shareholders’ rights.