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 capital.

The company’s issued capital will be raised to EGP 124.58 million from EGP 114.19 million through the issuance of 1.29 million bonus shares at a value of EGP 10.38 million or EGP 8 apiece, the FRA said in a statement to the Egyptian Exchange (EGX) on Thursday.

The one-for-11 bonus issue will be financed from last year’s earnings.

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.