ICON’s EGM approves capital hike to LE 142.560 m

Updated 4/26/2016 10:26:30 AM

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

EGM approved 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) at a nominal value of LE 4 per share.

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

Source: EGX & Arab Finance editor