Cairo –  The Arab Dairy Products Co. (Panda) said that its ordinary general meeting (OGM) approved a decision to increase the company’s issued and paid-up capital through a rights issue.

The issued and paid-up capital will be increased to EGP 290 million from EGP 160 million by issuing 130 million shares worth EGP 130 million, according to a bourse disclosure on Wednesday.

In the first half (H1) of 2021, the company reported consolidated net profits of EGP 1.49 million, down from EGP 5.08 million in H1-20, including minority shareholders' rights.

Source: Mubasher

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