Cairo – Mubasher: The extraordinary general meeting (EGM) of MM Group for Industry and International Trade approved a decision to increase its paid-up and issued capital to EGP 599.41 million from EGP 479.53 million.

The capital will be raised by EGP 119.88 million through the issuance of 193.36 million shares worth EGP 0.62 apiece at a rate of 0.25 bonus share for every share held, the company said in a bourse disclosure on Sunday.

In 2020, MM Group logged EGP 370.499 million in net profits, compared to EGP 475.59 million a year earlier, including minority shareholders’ rights.