Arab Finance: The ordinary general meeting (OGM) of Mohandes Insurance (MOIN) agreed to increase the issued capital to EGP 500 million from EGP 350 million, according to a bourse statement.
The shareholders approved the EGP 150 million raise during their meeting,
The increased amount will be disbursed over 60 million shares with a nominal value of EGP 2.50 per share.
Mohandes Insurance is an Egypt-based company that offers life and non-life insurance, and reinsurance products and services. Its products and services portfolio fall into two main insurance segments, namely individual insurance and property insuranceز