Select Page

FRA approves Fawry’s capital increase

The Financial Regulatory Authority (FRA) has approved to increase Fawry’s for Banking Technology and Electronic Payments issued capital by EGP 800 million.

It will be distributed to 1.6 billion shares, with a nominal value of EGP 0.5/share to be paid in cash through the subscription of old shareholders.

FRA has also approved doubling the company’s authorized capital from EGP one billion to EGP 3 billion.