Cairo - Integrated Engineering Group’s board of directors approved increasing the company’s authorised capital to EGP 100 million from EGP 30 million during a meeting.
The board also greenlighted raising the issued and paid-up capital to EGP 29 million from EGP 15 million, representing a hike of EGP 14 million distributed among 140 million shares at a par value of EGP 0.10 per share and issue expenses of EGP 0.025, according to a stock exchange statement on Tuesday.
It is worth noting that during the first nine months (9M) of 2022, the EGX-listed firm incurred higher losses at EGP 298,220, compared to EGP 327,210 in the prior-year period.
In the meantime, revenues dipped to EGP 2.50 million in 9M-22, compared to EGP 14.77 million in 9M-21.
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