Cairo – Mubasher: Paint and Chemicals Industries (PACHIN) has submitted its issued capital hike documents to the Egyptian Exchange, according to a bourse filing on Tuesday.
The company seeks to raise its issued capital to EGP 240 million from EGP 200 million through 1-for-5 bonus shares distribution.
The yet-to-be added amount will be divided into 4 million shares at EGP 10 each, financed from the legal reserve registered in the financial statements for the period ended 30 June 2014.
Moreover, the company plans to raise its authorized capital to EGP 500 million from EGP 200 million.
