Cairo - Mubasher: Ismailia National Food Industries (Foodico) rebutted the news that it intends to raise its capital.
The company also denied that it targets EGP 120 million in investments during the fiscal year 2015/16.
News reports claimed earlier that Foodico would hold a shareholder meeting in November to take a decision regarding the company's capital top-up.
Foodico posted EGP 1.1 million in losses in the first quarter of 2015, against EGP 460,600 net profits for the similar period a year earlier.
