ArabFinance: The Financial Regulatory Authority (FRA) has approved the publication of the disclosure form regarding the decisions of Arab Engineering Industries’ (EEII) board of directors on capital increase, according to a bourse filing.
The board previously agreed upon raising the company’s issued capital to EGP 83.29 million from EGP 62.46 million.
The capital increase amounts to EGP 20.82 million distributed over 55.52 million shares at a nominal value of 37.5 piasters per share.
Arab Engineering Industries is an Egypt-based company engaged in the manufacture of wired condensers for household refrigerators, as well as steel wires.