The Clap
ُEFG Hermes (HRHO) board of directors announces increasing the company’s capital by offering bonus shares.
Claps Class
Bonus shares are distributions of earnings that a company undertakes in the form of stocks for the purpose of increasing capital.
The Deets
The step will increase the capital by EGP 973.07 million up to EGP 5.38 billion.
The increase will be conducted by distributing 1 share for every 5 shares. The operation will be financed from last year’s retained earnings.
Claps Class
Retained Earnings are the portion of profit left for the business after paying out dividends to shareholders. The company retains this portion to reinvest it in the business or to pay off debts.
