Cairo - Mubasher: The board of Sidi Kerir Petrochemicals (Sidpec) has approved a raise in the issued and paid-up capital to EGP 1.51 billion from EGP 1.26 billion.
The capital will increase by EGP 252 million, distributed over 630 million shares at a nominal value of EGP 2 per share, according to a bourse filing on Sunday.
It is noteworthy to mention that in 2021, the net profits of Sidpec hiked by 1,957.69% to EGP 535 million, compared to EGP 26 million in the earlier year.
