Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the listing of the capital raise shares of Fawry for Banking Technology and Electronic Payments.

The e-payment company’s authorised capital will be raised to EGP 1 billion from EGP 500 million, while its issued and paid-up capital will be increased to EGP 453.65 million from EGP 353.65 million, the EGX said in a statement on Wednesday.

A 0.282-for-one bonus issue will be made, amounting to 200 million shares at a nominal value of EGP 0.50 apiece, to be funded from the retained earnings and profits as per the financial results for the year ended 31 December 2019.

The record date for the bonus issue is at the end of Wednesday’s, 10 March, trading session.

During the first nine months of 2020, Fawry logged net profits of EGP 145.19 million, compared to EGP 76.25 million in the corresponding period a year earlier, including minority shareholders’ rights.