Cairo – Mubasher: The board members of Prime Holding aim to increase the company’s capital by a value ranging between EGP 175 million and EGP 350 million, representing a rate between 50% and 100%.
The EGX-listed firm will implement the capital hike to finance its expansion strategy and resume the working of halted operations, according to a bourse disclosure.
The proceeds of the capital raise will be deployed to back the financial capabilities of several affiliated companies, expand margin buying operations, and strengthen the activity of its subsidiary, Prime Capital.
In January 2023, the Financial Regulatory Authority (FRA) greenlighted Prime Holding’s capital hiked to EGP 275 million from EGP 175 million.
