ICON receives OGM’s nod for EGP 97M capital hike

Updated 7/13/2023 9:14:00 AM
ICON receives OGM’s nod for EGP 97M capital hike

Arab Finance: Industrial Engineering Company for Construction and Development’s (ICON) ordinary general meeting (OGM) has greenlit increasing the firm’s issued capital by EGP 97 million distributed over 24.250 million shares at a par value of EGP 4 per share, according to a filing on July 13th.

Accordingly, the capital shall increase to EGP 582 million from EGP 485 million via the distribution of 1-for-5 bonus shares.

ICON is an Egypt-based company engaged in manufacturing and producing several types of steel-sheet-related products.

The company’s products include sandwich steel panels, caravans, guard rails, purlins, pre-fabricated units, corrugated sheets, galvanized tubes and pipes, aluminum windows, and doors.

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