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Alexandria Medical Services gets FRA's approval on capital raise

Alexandria Medical Services gets FRA's approval on capital raise
The company decided to increase its issued capital to EGP 200 million

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the publication of the disclosure form submitted by Alexandria Medical Services - Alexandria New Medical Center to increase its issued and authorised capital.

The disclosure form includes the company’s decision to raise its authorised capital to EGP 450 million from EGP 200 million, according to a bourse disclosure form on Thursday.

The company also decided to increase its issued capital to EGP 200 million from EGP 114.19 million through the issuance of 10.72 million shares valued at EGP 85.8 million or EGP 8 per share as well as issuance expenses of EGP 0.15 per share.

During the first nine months of 2020, Alexandria Medical Services achieved net profits of EGP 15.74 million, down from EGP 20.81 million in the corresponding period a year earlier.