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Alexandria Medical Services approves capital raise via bonus issue

Alexandria Medical Services approves capital raise via bonus issue
The issued and paid-up capital will be increased to EGP 124.58 million

Cairo – Mubasher: The board of directors of Alexandria Medical Services - Alexandria New Medical Center approved a capital increase amounting to EGP 10.38 million.

The issued and paid-up capital will be increased to EGP 124.58 million from EGP 114.19 million through issuing one bonus share for every 11 shares held, totalling 1.29 million bonus shares at a nominal value of EGP 8 apiece, the company said in a bourse disclosure on Tuesday.

The capital increase will be financed from the shareholders’ dividends for the fiscal year ended 31 December 2020.

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.