Today: ICON’s EGM to discuss capital increase

Updated 4/24/2016 8:58:34 AM

Arab Finance: Engineering Industries (ICON) (ENGC) called extra-ordinary general assembly to be convened on April 24.

EGM will review issued capital hike from LE 106,920,000 to LE 142,560,000 with increase amounting to LE35,640,000, through issuance of free stocks (one free stock for every existing 3 held).

Capital hike will be funded from net profits of the fiscal year amounting to LE96.577 million.

Source: EGX & Arab Finance editor