Zahraa Maadi to distribute over $13mln bonus shares

The eligibility will be for shareholders until the record date of September 21st

Staff Writer, Arab Finance

September 7, 2022

PHOTO

Zahraa Maadi Investment and Development (ZMID) announced that the distribution of EGP 264 million bonus shares will start on September 22nd, according to a disclosure to the Egyptian Exchange (EGX) on Tuesday.

The eligibility will be for shareholders until the record date of September 21st.

The bonus shares will be distributed on a 1-for-1 basis, meaning that each bonus share will be distributed to the holder of one original share before the capital increase.

In February, Zahraa Maadi announced that its ordinary general meeting (OGM) approved raising the company’s issued and paid-up capital by EGP 264 million to EGP 528 million.

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