The Egyptian Exchange’s (EGX) listing committee approved increasing Delta Insurance’s issued and paid-up capital by EGP 20 million, distributed over 5 million shares at a nominal value of EGP 4 per share.
The EGX-listed firm’s capital will be raised to EGP 120 million from EGP 100 million by issuing 0.2 bonus share for every share held, the Egyptian bourse said in a statement on Thursday.
The insurer’s bonus shares will be listed on the EGX starting from trading session on 10 June, the statement added.
The eligibility of bonus shares shall be for the shareholders registered until the end of trading session on 9 June.
During the period from July 2018 to last March, Delta Insurance’s standalone profit registered EGP 56.58 million, compared to EGP 46.17 million in the year-ago period.
Revenues rose to EGP 51.7 million in the nine-month period ended 31 March, compared to EGP 39.51 million in the same period a year earlier.