ArabFinance: El Badr Plastic Company (EBDP) announced that its board of directors has approved the proposal of raising the company’s authorized and issued capitals, according to a statement filed to the Egyptian Exchange (EGX).

The board approved raising the authorized capital to EGP 250 million from EGP 17 million.

Moreover, the board agreed upon increasing the company’s issued and paid-up capital to EGP 114.75 million from EGP 11.475 million by EGP 103.275 million through the issuance of 9-for-1 bonus share at a nominal value of EGP 0.50 per share.

Founded in 2002 and listed on EGX in 2008, El Badr Plastic specializes in providing plastic packaging solutions to meet all packaging and design needs.