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.

A trader works at the Egyptian stock exchange in Cairo, Egypt September 23, 2019.

REUTERS/Mohamed Abd El Ghany
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.

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.

More From Equities