Arab Finance: Cairo Oils and Soap’s (COSG) board has approved raising the company’s issued and paid-up capital to EGP 312 million from EGP 234 million, as per a filing on November 26^th.

Thus, the capital will increase by EGP 78 million at a nominal value of EGP 0.10 per share, or 1-for-3 shares.

It is worth mentioning that the company recorded net profits after tax amounting to EGP 44.415 million during the first nine months of 2023, versus net losses of EGP 50.19 million in the same period a year earlier.

Cairo for Oils, a subsidiary of the Holding Company for Food Industries, is an Egypt-based holding company engaged in the manufacture, processing, packaging, import, export, and distribution of different types of seeds for the production of oil and soap.

The company primarily uses cotton seeds and soya beans for processing and producing cooking oil, soap, and detergent products under several brands.

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