Cairo – Mubasher: The ordinary general meeting (OGM) of Egyptian Financial Group Hermes Holding (EFG Hermes) has approved an increase by EGP 973.07 million in the issued and paid-up capital to EGP 5.83 billion from EGP 4.86 billion via bonus shares.

The company's shareholders have approved to capitalise EGP 973.07 million from the retained earnings to raise the capital, according to a bourse filing on Thursday.

The capital increase will be distributed over 194.61 million shares at a nominal value of EGP 5 per share and will be carried out by granting one bonus share for every five owned shares.

It is noteworthy to mention that in 2021, EFG Hermes reported a 12% surge in revenues to EGP 6.1 billion, exceeding the EGP 6 billion mark for the first time.