Arab Finance: The Egyptian Exchange (EGX) Listing Committee approved the listing of Alexandria Spinning and Weaving Company’s (Spinalex) capital increase of EGP 80.160 million, as per a disclosure.
The company’s issued and paid-up capital will rise from EGP 641.282 million to EGP 721.442 million through the distribution of nearly 40.080 million bonus shares at a nominal value of EGP 2 per share.
Shareholders will receive 0.1250000027 bonus shares for every ordinary share held prior to the increase, financed from the dividends recorded in the financial statements as of June 30th, 2024.
Eligibility for the bonus shares distribution applies to shareholders holding the stock until the closing of the trading session dated July 30th.
The post-increase shares will be listed in the database with a reference price set, effective by the start of the trading session on Thursday, July 31st.
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