Grand Investment Capital’s EGM approves capital hike

The extraordinary general meeting (EGM) of Grand Investment Capital approved increasing the issued capital to EGP 52 million from EGP 39 million, according to a bourse disclosure.

The company will issue 2.600 million in bonus shares, with a nominal value of EGP 5 per share.

Grand Investment Capital will distribute bonus shares at a rate of one bonus share for every three original shares.

Established in 2007, the firm is a joint stock company that provides direct investments in the financial services sector.