Cairo – Mubasher: Arabia Investments, Development and Financial Investment Holding Co. said its board of directors gave a nod to raise its issued capital from EGP 440.24 milllion to EGP 650 million.
The capital increase of EGP 209.75 million will be in cash at EGP 1 par value per share.
The company reported a 87% decline in its profits for the second quarter of 2016, as its profits reached EGP 4.2 million compared with EGP 32.5 million for the prior-year quarter
