Cairo - Mubasher: South Valley Cement Company will increase its issued and paid-up capital to EGP 4.82 billion from EGP 2.41 billion, according to a bourse filing.
The EGP 2.41 billion hike will be raised through a rights issue that will allow existing shareholders to subscribe separately from their original shares, according to a bourse filing.
The increase amount will be distributed over 482.25 million shares, at a nominal value of EGP 5 per share.
The company aims to use the capital hiked to operate its plant, increasing the annual production capacity from 1.50 to 2 million tons, securing multiple energy sources, and upgrading equipment and spare parts to ensure continued operational efficiency.
It will also settle outstanding debts and obligations in accordance with the settlement agreement with the Egyptian government.
In the first nine months (9M) of 2025, South Valley Cement suffered lower net losses after tax at EGP 134.84 million, versus EGP 237.49 million in 9M-24.
