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Misr Chemical Industries files with EGX for capital hike

Misr Chemical Industries files with EGX for capital hike
Photo Credit: Arabianeye-Reuters
Misr Chemical Industries
MICH
-2.60% 36.03 -0.96

The Egyptian Exchange (EGX) said Thursday that it is studying a request from Misr Chemical Industries for a capital increase.

The company seeks to raise its issued capital from EGP 200 million to EGP 260 million.

The EGP 60 million increase will be distributed across 15 million shares at EGP 4 par value each.

The firm posted EGP 14.7 million in net profits in the six-month period ended December 2014, compared with EGP 24.3 million for the same period of the previous year, a decline of 39.5%.