Misr Cement Qena’s EGM OKs capital increase
Updated 7/5/2023 3:36:00 AM
Arab Finance: Misr Cement – Qena’s extraordinary general meeting (EGM) has agreed to increase the company’s issued and paid-up capital by EGP 240 million, according to a filing on July 5th.
Thus, the capital shall increase to EGP 960 million from EGP 720 million.
The capital hike of EGP 240 million is distributed over 24 million shares at a nominal value of EGP 10 per share.
The firm previously reported a 10.13% year-on-year (YoY) increase in consolidated profit attributable to controlling shareholders during the first quarter (Q1) of 2023, recording EGP 65.672 million.
Misr Cement – Qena is engaged in the manufacturing and marketing of cement and cement-related products in Egypt and abroad.
The company is involved in the production and distribution of construction materials, as well as dealing in all types of construction supplies and equipment.
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