Arab Finance: Industrial and Engineering Enterprises Co’s (IEEC) extraordinary general meeting (EGM) approved an EGP 194.4 million capital increase, according to a filing to the Egyptian Exchange (EGX) on June 4^th.

The company’s issued and paid-up capital will be increased to EGP 291.6 million from EGP 97.2 million through the issuance of 972.2 million shares at a nominal value of EGP 0.2 per share.

Industrial and Engineering Enterprises undertakes public contracting activities and specifically civil constructions as well as supplying and assembling mechanical and electrical equipment for water draining, drinking water stations, irrigation and subterranean drainage.

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