Misr Duty Free Shops' EGM approves increasing authorized capital by $4mln

Close up of Egyptian pound notes spread on table. 3d rendering on money scattered on surface. Image used for illustrative purpose. Getty Images
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Additionally, the assembly approved increasing the issued capital from EGP 13.75 million to EGP 150 million

Staff Writer, Arab Finance

January 20, 2025

PHOTO
Close up of Egyptian pound notes spread on table. 3d rendering on money scattered on surface. Image used for illustrative purpose. Getty Images

Misr Duty Free Shops' extraordinary general assembly (EGM) agreed to raise the authorized capital from EGP 100 million to EGP 300 million, as per a disclosure.

Additionally, the assembly approved increasing the issued capital from EGP 13.75 million to EGP 150 million, a move that will be financed through the company’s existing reserves.

The assembly also approved amendments to Articles 6 and 7 of the company’s bylaws to align with the new capital structure.

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