Cairo – Mubasher: The board of directors of Fawry for Banking Technology and Electronic Payments decided to raise the company’s issued and paid-up capital to EGP 453.65 million from EGP 353.65 million through a bonus issue.

The company’s capital will be raised by EGP 100 million distributed over 200 million shares at a nominal value of EGP 0.50 apiece through a 0.28-for-one bonus issue, according to a statement to the Egyptian Exchange (EGX) on Tuesday.

The board approved distributing dividends of EGP 100 million for 2019 and allocating retained earnings of EGP 112.141 million.

For the full-year 2019, Fawry reported net profits of EGP 130.38 million, up from EGP 69.23 million in 2018.