Cairo - Mubasher: Egypt Aluminum Company has decided during its extraordinary general meeting (EGM) to increase the company’s capital from EGP 500 million to EGP 550 million.

The capital hike will be funded through the issuance of bonus shares at 10% or 1 bonus share for each 10 shares, with a total value of EGP 50 million, according to the company’s bourse filing on Sunday.

Egypt Aluminum is increasing its capital to be able to carry out its future investments, including its EGP 73 million diodes development project.