Cairo — Mubasher: Industrial Engineering Company for Construction and Development (ICON) on Thursday said that its board of directors approved increasing the company’s issued and paid up capital to EGP 485 million from EGP 424.1 million through old shareholders’ cash subscription.
The capital rise amounted to EGP 60.89 million distributed over 15.22 shares at a fair value of EGP 4 a share, in addition to subscription fees of EGP 0.05, the company said in a filing to the Egyptian Exchange (EGX).
During the first nine months of 2018, ICON’s profit amounted to EGP 361.6 million, compared to EGP 62.5 million in the same period a year earlier.
