Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Nasr Company for Civil Works to increase the issued and paid-up capital to EGP 98.82 million from EGP 73.2 million.

The capital will be raised by EGP 25.62 million through the issuance of 5.12 million shares at a nominal value of EGP 5 apiece to be financed through a rights issue, the FRA said in a statement to the Egyptian Exchange (EGX) on Sunday.

The company's extraordinary general meeting (EGM) will convene on 25 August to discuss the capital increase decision.

During the first quarter (Q1) of 2021, the company recorded net losses of EGP 2.54 million, versus net profits of EGP 4.04 million in Q1-20.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.