Arab Finance: The Financial Regulatory Authority (FRA) approved in principle to publish the disclosure form regarding calling senior shareholders to subscribe to the capital increase of Egypt Gas (EGAS), according to a statement filed to the Egyptian Exchange (EGX) on August 7^th.

In June, the company’s board endorsed a proposal to increase the issued capital by EGP 520 million distributed over 52 million shares at a nominal value of EGP 10 per share.

Accordingly, the issued capital will be increased to EGP 1 billion from EGP 480 million through subscriptions by senior shareholders.

Egypt Gas is an Egypt-based shareholding company engaged in the design, installation, operation, and maintenance of natural gas distribution networks and pressure reduction stations for domestic, commercial, and industrial applications.

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