Arab Finance: The Financial Regulatory Authority (FRA) approved Misr Beni Suef Cement Company’s capital reduction to EGP 525.650 million from EGP 550.223 million, according to a bourse disclosure.
The company will reduce its issued and paid-up capital by EGP 24.573 million through writing off 2.457 million shares, with a nominal value of EGP 10 per share.
The transaction aims to increase its current shareholders’ book value, expand activities, and boost investors’ confidence.
In the first quarter (Q1) of 2026, Misr Beni Suef Cement posted 2.94% year-on-year (YoY) higher consolidated net profits attributable to the parent company at EGP 590.952 million, versus EGP 574.018 million.
