ArabFinance: Egypt Gas stated that the shareholders who recorded on December 9th, are entitled to stock dividends, according to EGX’s disclosure.

Egypt Gas will issue 24 million shares at a par value of EGP 10 per each financed from project fund reserves. It increased the issued and paid-in capital by EGP 240 million to EGP 480 million.

On November 25th, the Egyptian Exchange's concerned committee approved listing capital increase shares of the company.

Additionally, the company will increase authorized capital from EGP 500 million to EGP 1 billion.

The company posted a net profit after tax of EGP 9,068,755 in the January-September period of 2020, a 67% decline from EGP 27,812,237 achieved in the prior-year period.

Egypt Gas is an Egypt-based shareholding company engaged in the design, installation, operation, and maintenance of natural gas distribution networks and pressure reduction stations for domestics, commercial, and industrial applications.

 

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