Cairo – Mubasher: The Egyptian Exchange announced that it is considering documents received from Electro Cable Egypt as regards its capital increase.
The company is seeking to raise capital by EGP 25 million to EGP 521.21 million, up from EGP 496.4 million, at EGP 1 par value. The capital hike will be financed from shareholders’ dividends as shown on 31 December 2014.
The cable producer earlier posted EGP 17.89 million ($2.29 million) in standalone net profit for the first half of 2015, down from EGP 20.49 million ($2.6 million) in the same period a year ago.
