Cairo – Mubasher: The ordinary general meeting (OGM) of Porto Group Holding approved the board’s proposal to distribute bonus shares to be financed from 2018's retained earnings and 2019’s generated profits.

The company’s shareholders agreed on a one-for-six bonus issue, by issuing 100.3 million shares valued at EGP 100.3 million, according to a bourse disclosure on Wednesday.

The extraordinary general meeting (EGM) will be convened to approve the decision.

It is worth mentioning that in 2019, Porto Group Holding’s net profits declined to EGP 116.88 million from EGP 133.58 million in 2018, including minority shareholders’ rights.