Foodico’s OGM nods to EGP 5.75M capital increase
Updated 3/27/2022 9:52:28 AM
ArabFinance: The ordinary general meeting (OGM) of Ismailia National Food Industries (Foodico) (INFI) has approved a EGP 5.75 million increase in the company’s issued and paid-up capital, according to a filing to the Egyptian Exchange (EGX) on Sunday.
Accordingly, Foodico’s issued and paid-up capital will be increased to EGP 63.25 million from EGP 57.5 million through the distribution of 1-for-10 bonus shares.
It is worth noting that Foodico posted a net profit after tax of EGP 9.55 million in 2021, down from EGP 11.64 million in 2020.
Foodico is an Egypt-based public shareholding company engaged in the food industry. The company exports its products to UAE, Europe, US, Canada, and Australia.
