Cairo – Mubasher: The Board of Directors of Fawry for Banking Technology and Electronic Payments approved the disclosure report and related documents and the data it contains resulting from the increase in the issued and authorized capital.
The company said in a statement to the Egyptian Stock Exchange today, Wednesday, that the Board approved the invitation of the ordinary and extraordinary general assembly to consider increasing the authorized capital from 500 million pounds to one billion pounds.
The Board agreed to increase the issued capital with free shares financed from retained earnings for the benefit of old shareholders from an amount of 353.65 million pounds distributed over 707.3 million shares to an amount of 453.65 million pounds distributed over 907.3 million shares, an increase of 100 million pounds, divided into 200 million shares, representing 0.28 shares. Free for each original share and the value of each share is 0.5 pounds, representing the share par value.
The Board also approved an increase in the issued capital, a cash increase paid in cash for the benefit of old shareholders, from 453.65 pounds distributed over 907.4 million shares to 853.65 million pounds distributed over 1.7 billion shares, an increase of 400 million pounds, divided into 800 million shares, the value of each share is 0.5 pounds.
The Board proposed that the initial rights in the subscription be traded separately from the original share, provided that the value of the increase in the issued capital be paid in cash, each according to the percentage of its contribution to the company’s capital.
During the first half of 2020, the company achieved profits amounted to 85.9 million pounds during the first six months of 2020, compared to profits of 36.47 million pounds in the comparative period of 2019.
The company’s revenues rose to 549.26 million pounds at the end of last June, compared to revenues of 373.33 million pounds in the comparative half of 2019.
Nominations
Fawry’s half profit rises 135% supported by revenue growth
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