Cairo – Mubasher: The extraordinary general meeting of the Middle East Glass Manufacturing Co. approved increasing the company’s issued capital by EGP 32.8 million to EGP 83.12 million from EGP 50.32 million.
A total of 32.8 million shares will be issued at a nominal value of EGP 1 per share to be financed by cash or from the credit balances of some shareholders, the company said in a statement to the Egyptian Exchange (EGX) on Monday.
It is worth mentioning that during the first quarter of 2019, the Middle East Glass Manufacturing Co. reported a net profit of EGP 98.53 million, compared to EGP 17.12 million in the prior-year period, including minority shareholders’ rights.
