Arab Finance: The board of directors of Al Fanar for Contracting, Construction, Trade, Import, and Export Company (FNAR) has approved an EGP 8 million increase in the issued and paid-up capital, the firm said in a bourse filing on March 7th.
The capital raise will be distributed over 8 million shares at a nominal value of EGP 1 per share.
Accordingly, the company’s issued and paid-up capital shall increase to EGP 16 million from EGP 8 million.
Al Fanar is an Egypt-based company, operating within general contracting, construction, trade, import, and export, in addition to, land reclamation and land division