Cairo – Mubasher: The extraordinary general meeting (EGM) of Ghabbour Auto (GB Auto) has approved an issued and paid-up capital decrease to EGP 1.08 billion from EGP 1.09 billion.
The company will reduce its capital by cancelling 8.5 million treasury shares, according to a bourse filing on Monday.
It is noteworthy to mention that in the first quarter (Q1) of 2022, the consolidated net profits of GB Auto rose by 4.6% year-on-year (YoY) to EGP 365.64 million from EGP 349.52 million, including minority shareholders' rights.
