Arab Finance: The ordinary general meeting (OGM) of International Company for Agricultural Products (IFAP) approved the board of directors’ proposal to distribute 1-for-10 bonus shares through raising issued and paid-up capital, according to a statement published on September 25^th.

The company’s issued and paid-up capital will be increased through the issuance of 8.403 million bonus shares at a total value of EGP 16.807 million and a nominal value of EGP 2 per share.

The capital increase will be financed from retained earnings and net profits as per the company’s standalone financial statement for the period ended June 30^th 2022.

International for Agricultural Products is engaged in farming, trading, and distribution of crops and seeds. The company purchases cotton flowers and cotton seeds from producers, undertakes contracting activities with cotton ginning companies, and trades in cotton fibers and seeds.