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GB Auto plans capital top-up to finance expansions

GB Auto plans capital top-up to finance expansions
GB Corp
GBCO
0.98% 12.32 0.12
Egypt’s car assembler GB Auto announced on Sunday it finalized studies on future expansions and financing options.
These studies showed that the company is in need of raising its issued capital.
The company will also hold a board meeting later in August to endorse the studies. GB Auto’s Q1 net profit had reached EGP 71.5 million, compared with EGP 67.6 million in the same period a year earlier.