Arab Finance: The extraordinary general meeting (EGM) of the International Company for Agriculture Crops (IFAP) agreed to raise the authorized capital by EGP 500 million to EGP 1.500 billion, according to a bourse disclosure.
In June, the Financial Regulatory Authority (FRA) approved the hike to support the company’s growth and expansion plans while reinforcing its financial position.
Established in 1975, the company is involved in mining and production of calcium carbonate, sand glass, gravel, gypsum, silica, kaolin, limestone, and other related minerals; exploration of gold, copper, and silver; provides geological surveys, quarry management, and blasting services; manufactures and carries out maintenance of mining machinery; manufacture of glass rock insulation materials.
