Arab Finance: International Company for Fertilizers & Chemicals’ (ICFC) extraordinary general meeting (EGM) has approved raising the authorized capital to EGP 500 million from EGP 100 million, according to a disclosure on May 12th.
Moreover, the EGM also has greenlit increasing the issued and paid-up capital by EGP 90 million distributed over 45 million bonus shares at a nominal value of EGP 2 per share.
Thus, the issued capital shall be raised to EGP 135 million from EGP 45 million.