“Odin” shares ascends 0.57% on the Egyptian Stock Exchange, driven by the proposal to distribute free shares

Odin Financial Investment Company, listed on the Egypt Stock Exchange, rose by 0.57% in the middle of the trading session today, Tuesday, to trade at the price of 1.76 pounds per share, after the company proposed free shares.

1.27 million shares of Odin Financial Investments were traded at that time, at a trading value of 2.21 million pounds.

The highest price for the share was at that time at 1.77 pounds, while the lowest price for the share was at 1.73 pounds.

The price of the shares of the Oden Financial Investments Company increased after the Board of Directors proposed distributing free shares to shareholders, for the profits of the transitional financial period ending in December 2024.

The company explained that the proposal includes the distribution of free shares of 20% of the capital, i.e. free share for every 5 original shares.

Odin Financial Investments also recorded a net profit of 42.84 million pounds during the period from July to December 2024, compared to 16.66 million pounds in the same period in 2023.

The total revenue during this period increased to 85.43 million pounds, compared to 46.15 million pounds in the same period last year.

With regard to independent financial statements, the company recorded profits of 19.51 million pounds in the second half of last year, compared to 7.91 million pounds in the same period from 2023.

On the other hand, the Securities Registration Committee agreed to amend the fiscal year of Odin, starting from the beginning of January and ending at the end of December of each year, with the preparation of financial lists for the period from the date of the end of the previous fiscal year to the beginning of the amended fiscal year.