Zahraa Maadi’s (ZMID) ordinary general meeting (OGM) has approved doubling the company’s paid-in capital from EGP 264 million to EGP 528 million.
More Details🧐 ZMID will finance the capital increase through its 2020 retained earnings at one bonus share per original share.
The OGM also approved raising the authorized capital from EGP 300 million to EGP 1 billion.
Why is this Important🤔 No additional financing is needed as the company is spending money it has already earned. It also allows companies to maintain control of company structure than other financing sources otherwise would.