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EGX approves authorized capital cut for South Valley Cement

EGX approves authorized capital cut for South Valley Cement

ArabFinance: The listing committee at the Egyptian Exchange (EGX) has approved cutting the authorized capital for South Valley Cement (SVCE) to EGP 12 billion from EGP 20 billion, the EGX announced in a statement.

This came in accordance with the provisions of Article 10 of the listing rules as per the Financial Regulatory Authority’s (FRA) decision No. 138 of 2020.

South Valley Cement is an Egypt-based company engaged in the manufacture of cement and its associated products, as well as a range of building materials products.

The company’s product portfolio consists of three main categories: clinker, portland ordinary cement, and ready-mix concrete.

 

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