The Egyptian Chemical Industries Board of Directors approved increasing the issued capital from 5.93 billion pounds to 9.93 billion pounds through cash subscription by old shareholders.

The company explained that the board decided to increase the capital by about 4 billion pounds, distributed over 800 million shares with a nominal value of 5 pounds per share, in addition to issuance expenses of 5 piasters per share.

According to the statement, the increase will be financed through cash subscription by old shareholders, allowing those with a credit balance on January 31 of this year to subscribe to the increase within the limits of their original contribution percentage.

The Council also approved a proposal to increase the authorized capital from 8 billion pounds to 12 billion pounds, an increase of 4 billion pounds.