Cairo – Mubasher: The board of directors of Alexandria Flour Mills will hold a meeting today 11 July to discuss raising the company’s capital by EGP 74.8 million, said Hany Magdy Hafez, company’s investor relations manager.
Hafez told Mubasher that the new capital increase will be allocated to issuing new stocks in favor of the Food Industries Holding Company.
The capital increase of Alexandria Flour Mills will be financed through raising the stake of the Food Industries Holding Company.
Earlier, in 1995 the Danish government granted Alexandria Flour Mills an amount of EGP 49.7 million in order to develop the flour mills. Later on following the privatization of Alexandria Flour Mills the Danish government asked the company to return back the grant value.
