Arab Finance: The Financial Regulatory Authority (FRA) has approved in principle for Cairo Oils and Soap to invite senior shareholders to subscribe to the company’s rights issue, according to a statement March 14^th.

Through the rights issue, the company aims to increase its issued capital by EGP 78 million distributed over 780 million shares at a nominal value of EGP 10 per share.

Accordingly, the capital will be raised to EGP 312 million from EGP 234 million.

Cairo for Oils, a subsidiary of the Holding Company for Food Industries, is an Egypt-based holding company engaged in the manufacture, processing, packaging, import, export, and distribution of different types of seeds for the production of oil and soap.

The company primarily uses cotton seeds and soya beans for processing and producing cooking oil, soap, and detergent products under several brands.

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