Cairo – Mubasher: Cairo Oils and Soap said it will start the procedures of raising its authorised capital from EGP 240 million to EGP 1 billion, according to a bourse filing posted Monday.

The firm said it will present the matter to the listing committee of the Egyptian Exchange, once it finishes all the required procedures.

In the same vein, the company will hold an extraordinary general meeting on 15 February to discuss the capital raise move.

Cairo Oils is currently operating with EGP 200 million capital, distributed across 40 million shares at EGP 5 par value each.