Gadwa for Industrial Development’s EGM approves capital reduction

Updated 6/11/2025 9:37:00 AM
Gadwa for Industrial Development’s EGM approves capital reduction

Arab Finance: Gadwa for Industrial Development’s extraordinary general meeting (EGM) agreed to cut the issued capital to EGP 1.962 billion from EGP 2.004 billion, according to a bourse disclosure.

The company will reduce its capital by EGP 41.346 million by writing off 21.761 million treasury shares at a nominal value of EGP 1.90 per share, based on 2024 financial statements.

In 2024, the EGX-listed firm’s consolidated net profits attributable to the parent company hiked by 44.437% to EGP 1.444 billion in 2024 from EGP 1 billion in 2023.

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