Cairo – Mubasher: The ordinary general meeting (OGM) of the Egyptian Financial Group Hermes Holding (EFG Hermes) approved a decision to transfer EGP 768.61 million from its retained earnings to increase its capital.

The issued and paid-up capital will be increased to EGP 4.61 billion from EGP 3.84 billion through the issuance of 153.72 million bonus shares at a nominal value of EGP 5 apiece, the company said in a bourse disclosure on Sunday.

The shareholders decided to distribute one bonus share for every five shares held.

In the first quarter (Q1) of 2021, EFG Hermes logged net profits of EGP 312.13 million, compared to EGP 98.92 million in the same period in 2020, including minority shareholders’ rights.