Cairo – Mubasher: The ordinary general meeting of Egyptian Chemical Industries (KIMA) approved increasing the company’s capital to EGP2.03 billion from EGP1.97 billion through distributing bonus shares.
The extraordinary general meeting gave the green light to raising the authorized capital to EGP3 billion from EGP2 billion. In addition, the extraordinary meeting also approved the issued capital hike through 2015 cash dividends.
The total distribution value was decided to be at EGP65.3 million, distributed over 13 million shares at EGP5 each.
On 22 October 2015, the ordinary meeting approved withholding cash dividends distribution for raising the company’s capital.
Earlier, the company raised its capital by EGP1.1 billion and EGP450 million in 2011 and 2014 respectively.
