Egyptian Exchange approves listing Themar's share capital increase
TLDR
- Approval granted for EGP 6 million capital increase at Egyptian Arabian Company for Securities and Bonds Brokerage (Themar) by the EGX listing committee.
- Distribution of 7.5 million shares with a par value of EGP 0.8 through a 0.0909-for-1 bonus share issuance.
- Themar's shares to be listed on EGX's database from April 4th following the capital increase, raising capital from EGP 66 million to EGP 72 million.
The listing committee of the Egyptian Exchange (EGX) has approved an increase of EGP 6 million in the issued and paid-up capital of the Egyptian Arabian Company for Securities and Bonds Brokerage (Themar), which engages in various investment activities, including the sale and purchase of securities, financial advisory services, e-trading, ownership transfer, and conducting training sessions.
The capital increase will involve the distribution of 7.5 million shares, each with a par value of EGP 0.8, through a bonus share issuance at a ratio of 0.0909-for-1. Shareholders will be eligible for this offer until the trading session on April 3rd.
Following the capital increase, the company's shares will be listed on the EGX's database starting April 4th, resulting in an increase in the issued and paid-up capital from EGP 66 million to EGP 72 million.
$1/47.33 as of 14:37, April 7, 2024
Key Takeaways
For investors in Themar, the approved capital increase signifies a potential enhancement in the company's financial strength and growth prospects. With the issuance of bonus shares, existing shareholders stand to benefit from an increased ownership stake without the need for additional investment. This could lead to improved liquidity and marketability of the company's shares on the Egyptian Exchange (EGX). Moreover, the expansion of the company's capital base may enable Themar to pursue new investment opportunities, diversify its services, and strengthen its competitive position in the market, potentially offering long-term benefits to investors.
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