Cairo - Mubasher: Misr Chemical Industries announced the board’s approval to increase the issued and paid-up capital to EGP 438.75 million from EGP 292.50 million.
The capital raise amount will be distributed over 36.56 million shares at a nominal value of EGP 4 per share, according to a bourse statement.
This will be funded by the profits of fiscal year (FY) 2022/2023, which were registered during the period ended on 30 June 2023.
Last June, the shareholders of Misr Chemical Industries approved raising the authorised capital to EGP 1 billion from EGP 400 million.
Financials for H1-23/24
During the first half (H1) of FY23/24, the company recorded net profits after tax valued at EGP 281.13 million, an annual rise from EGP 280.58 million.
Sales grew by 1% year-on-year (YoY) to EGP 462.37 million in H1-23/24 from EGP 455.84 million, while the basic earnings per share (EPS) was kept unchanged at EGP 3.84.
