Cairo- Mubasher: The Financial Regulatory Authority (FRA) on Monday said that it approved Alexandria Container and Cargo Handling Company's request to increase its issued capital.
The company will raise its issued capital by EGP 5.57 million to EGP 744.87 million from EGP 739.29 million at a face value of EGP per share, and with a par value of EGP 150.65 through the initial public offering (IPO) on the Egyptian Exchange (EGX), according to a bourse filing.
The FRA’s decision was in line with the provisions of Article (48) of the listing rules on EGX.
In November, the company's board approved increasing the paid-up and issued capital to EGP 744.88 million from EGP 739.3 million through IPO.
Alexandria Container’s total capital amounted to EGP 739.3 million, divided on 147.86 million shares at a par value of EGP 5 per share.
