Arab Finance: MM Group for Industry and International Trade’s (MTI) ordinary and extraordinary general meetings (OGM and EGM) have approved raising the issued and paid-up capital by EGP 187.319 million distributed over 302.124 million shares at a nominal value of EGP 0.62 per share, the company disclosed.

Thus, the capital shall be increased to EGP 936.584 million from EGP 749.268 million via the distribution of 0.25-for-1 bonus shares as of August 1^st.

The eligibility in the stock dividend distribution will be for shareholders of a record date on July 31^st.

MTI is one of the leading distribution companies by geographic coverage in Egypt, with access to more than 40,000 points of sale.

The Egyptian joint stock Company operates in a wide range of businesses, including consumer electronics, telecommunication, automotive, seamless pipes, and tractors through partnerships with leading global brands including Samsung, Vodafone, Huawei, Range Rover, Jaguar, Maserati, Bentley, Carrier and Bosch.

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