Egypt: Kima’s shareholders nod for capital hike

The authorised capital will increase to $254mln

Staff Writer, Mubasher

PHOTO

Cairo – The extraordinary general meeting (EGM) of Egyptian Chemical Industries (Kima) approved increasing the authorised, paid-up, and issued capital.

The authorised capital will increase from EGP 8 billion to EGP 12 billion.

Moreover, the issued and paid-up capital will increase by EGP 4 billion to EGP 9.93 billion from EGP 5.93 billion.

It is noteworthy that Kima logged net profits of EGP 513.61 million in the first half (H1) of FY23/24, down from EGP 604.44 million.

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