Cairo – Mubasher: The board of MB For Engineering and Contracting agreed on increasing the company’s capital to EGP11 million from EGP10 million.

In a bourse filing, the company indicated that articles no. 6 and 7 of the memorandum were amended as per shareholders’ decision on 24 March 2016, when the paid-in and issued capitals were increased by 10%, or two million shares at a par value of EGP0.5 each.

On 23 November 2015, the board approved following capital hike’s procedures.

Earlier, the company’s shareholders gave the green light to floating 27.6% of capital, or 5.52 million shares worth EGP32.8 million, at fair value of EGP5.95 each.