KIMA’s board thumps up capital increase proposal

Updated 1/30/2024 9:12:00 AM
KIMA’s board thumps up capital increase proposal

Arab Finance: The Egyptian Chemical Industries’ (KIMA) board has approved a proposal to increase the issued and paid-up capital from EGP 5.933 billion to EGP 9.933 billion, as per a disclosure on January 30th.

Accordingly, the capital will be raised by EGP 4 billion distributed over 800 million shares at a nominal value of EGP 5 per share.

The board also agreed upon the proposal of raising the authorized capital to EGP 12 billion from EGP 8 billion.

KIMA is an Egypt-based chemical producer, founded in 1956 to produce nitrogenous manure for the Southern Valley by using the elector-hydraulic power generated by the Aswan Dam.

 

 

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