Cairo – Mubasher: The shareholders of Misr Cement – Qena agreed to increase the company’s issued and paid-up capital by EGP 240 million, according to a bourse disclosure.
The capital hike amount will be distributed over 24 million shares at a nominal value of EGP 10 per share.
In this regard, the new capital will stand at EGP 960 million distributed over 96 million shares, compared to EGP 720 million, prior to the raise.
It is worth highlighting that the shareholders greenlighted the capital hike during the extraordinary general meeting (EGM) that was held on 25 June.
Last March, Misr Cement disbursed a dividend of EGP 0.75 per share for 2022.
During the 12-month period that ended on 31 December 2022, the EGX-listed firm recorded lower consolidated net profits after tax at EGP 131.61 million.
The generated net profits were compared with EGP 173.89 million in 2021, including minority interest.
