Delta Insurance’s EGM greenlights capital raise by $1.9mln

Delta Insurance’s (DEIN) extraordinary general meeting (EGM) approved raising its issued capital by EGP 100 million, according to a bourse filing on December 30th.

The new capital will stand at EGP 500 million, compared to EGP 400 million before the transaction.

Delta Insurance will offer bonus shares over 25 million shares with a nominal value of EGP 4 per share.

In the first nine months (9M) of fiscal year (FY) 2023/2024, the EGX-listed company posted 64.3% year-on-year (YoY) higher consolidated net profits after tax and non-controlling interest at EGP 514.445 million.