Egypt Nasr Company for Civil Works' shareholders approve capital raise
The capital increase will be distributed over 5.36mln shares
A trader works at the Egyptian stock exchange in Cairo, Egypt September 23, 2019.
REUTERS/Mohamed Abd El Ghany
By Staff Writer, Mubasher
Cairo – The extraordinary general meeting (EGM) of Nasr Company for Civil Works approved a decision to increase the company's issued and paid-up capital to EGP 100 million from EGP 73.2 million.
The capital increase will be distributed over 5.36 million shares through a rights issue, bringing the total number of the company's shares to 20 million worth EGP 5 apiece, according to a bourse disclosure on Thursday.
During the first half (H1) of 2021, the company recorded net losses of EGP 9.47 million, versus net profits of EGP 5.87 million in H1-20.
The revenues fell to EGP 66.81 million in the January-June period from EGP 98.44 million in the year-ago period.
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