ArabFinance: The Financial Regulatory Authority (FRA) approved Nozha International Hospital’s (NIH) (NINH) proposal to increase issued and paid-in capital by EGP 21.09 million with a nominal value of EGP 1 per share, according to NIH’s statement to the Egyptian Exchange on February 18^th.

Accordingly, NIH’s issued and paid-in capital will be EGP 105.468 million instead of EGP 84.37 million.

The FRA also approved raising the authorized capital to EGP 525 million from EGP 90 million, in addition to splitting the nominal value to EGP 1 per share.

Earlier, NIH’s board of directors greenlighted increasing the authorized capital and splitting the shares’ nominal value to EGP 1 per share instead of EGP 6 per share.

In June 2020, the EGX’s concerned committee approved listing the capital increase on NIH.

The listed healthcare provider reported an 18% Year on Year fall in its net profit in 2020, recording EGP 49.6 million, compared to EGP 60.5 million in 2019.

NIH is an Egypt-based shareholding company engaged in the field of healthcare facilities management. The company manages and operates Al Nozha International Hospital, which provides general health and surgical services in the fields of internal medicine, surgery, obstetrics and gynaecology, pediatric, psychiatric, orthopaedic, ophthalmology, and physical therapy.