ArabFinance: Nozha International Hospital (NINH) announced in a statement sent to EGX, the Board of Directors was held on February 21.
The Board approved the study submitted by the Chairman, regarding issued and paid capital hike to LE43.2 million from LE36 million, with increase amounting to LE7.2 million.
The capital increase will be through the distribution of 1.2 million free stocks (0.2 free stock for every existing one held), at a nominal value of LE6 per share.
It is worth mentioning, the capital hike will be financed from the delayed profit which is amounting to LE28,400,858.
The company added that it will utilize the capital increase, worth LE7.2 million, to finance part of the financial reserves.
Related news: Nozha International Hospital profits jump to LE32 m ending 2016