FRA nods to Arab Moltaka’s capital increase
Updated 3/2/2022 1:30:32 PM
ArabFinance: The Financial Regulatory Authority (FRA) has approved the publication of the disclosure form submitted by Arab Moltaka Investments Company (AMIC) to begin the capital increase process, according to a statement filed to the Egyptian Exchange (EGX).
The company’s board of directors previously decided to raise issued and paid-up capital to EGP 360 million from EGP 300 million.
The capital is set to increase by EGP 60 million that will be financed from retained earnings and profits as per the financial statements for the period ended December 31st 2021.
AMIC invests in a diversified range of economic sectors covering a broad spectrum including industrial and agricultural investments, land reclamation and cultivation, livestock development, fisheries, real estate investments, and tourism.
