FRA approves Arab Dairy Products Co's capital raise

The form includes the board's approval to increase the company’s issued and paid-up capital

  
Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Arab Dairy Products Co. (Panda) to increase its capital, according to a statement to the Egyptian Exchange (EGX) on Thursday.

The form includes the board's approval to increase the company’s issued and paid-up capital by EGP 130 million to EGP 290 million from EGP 160 million.

The capital increase will be distributed over 130 million shares at a nominal value of EGP 1 apiece.

The increase will be financed in cash and/or from credit balances owed to some shareholders.

In the first half (H1) of 2021, the company posted 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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