Cairo –  The Egyptian Exchange’s (EGX) listing committee has decided to list the 126 million bonus shares related to the increase of Sidi Kerir Petrochemicals’ (Sidpec) issued and paid-up capital.

By granting 0.2 bonus share for every owned share, Sidpec is raising the capital by EGP 252 million to EGP 1.51 billion from EGP 1.26 billion.

The par value stood at EGP 2 per share, financed from the retained earnings as well as the earnings registered for the period ended on 31 December 2021, according to a bourse filing.

In November 2022, the shareholders of Sidpec greenlighted the capita hike, after the board had approved the increase in April.

It is worth noting that the listed firm generated net profits after tax worth EGP 1.23 billion in 2022, in addition to revenues amounting to EGP 8.65 billion.

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