ArabFinance: EFG Hermes Holding’s (HRHO) board of directors has approved increasing issued capital by EGP 973.07 million through the distribution of 1-for-5 bonus shares, according to a filing to the Egyptian Exchange (EGX) on Thursday.

Accordingly, the company’s issued capital shall increase to EGP 5.838 billion from EGP 4.865 billion.

In 2021, EFG Hermes generated revenues of EGP 6.1 billion, rising by 12% year-on-year (YoY) to surpass the EGP 6 billion mark for the first time.

Listed on both the Egyptian Exchange (EGX) and the London Stock Exchange (LSE), EFG Hermes has a presence in 13 countries, including the UAE, Saudi Arabia, Kuwait, Jordan, Oman, and Pakistan.

The leading investment bank franchise in Frontier Emerging Markets (FEM) provides a wide range of financial services, including advisory, asset management, securities brokerage, research, and private equity to the entire MENA region.