Cairo – Mubasher: Alexandria Flour Mills has spent around EGP 39.03 million of its capital raise subscription proceeds, totaling EGP 49.65 million.
The company spent EGP 39 million nearly to complete financing phase three of Alexandria Mill development and raise its capacity to 600 tons a day from 500 tons, according to a recent bourse filing.
In addition, it spent about EGP 37,270 on a land plot as a real estate investment.
The remaining amount of the subscription proceeds stands at around EGP 10.61 million.
It is worth pointing out that during the period from July 2021 to June 2022, the company achieved EGP 35.77 million in net profits, a rise from EGP 18.12 million in the year-ago period.
