Printer Friendly

Lecico's bonus issue will increase shares to 80 mln.

CAIRO: Lecico Egypt's will distribute a 33.33 percent bonus issue on July 7, raising the number of outstanding shares to 80 million from the current 60 million.

The bonus issue, approved by shareholders on March 29, will be distributed to all shareholders as of July 6 and is meant to improve liquidity.

Gilbert Gargour, Lecico Egypt's chairman and CEO, said in a statement, "The bonus issue is being done in an effort to improve our liquidity and make our share more appealing to retail investors.

"I have been pleased with the impact the announcement has had in this regard, and I hope this improved liquidity and wider shareholder base will continue following the bonus share distribution."

Daily NewsEgypt 2011

Provided by an company
COPYRIGHT 2011 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Daily News Egypt (Egypt)
Date:Jun 22, 2011
Previous Article:Oil retreats on caution ahead of Fed meeting.
Next Article:Egypt index down 1 pct, Dubai falls after MSCI delay.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters