Cairo – Mubasher: Elsewedy Electric Company’s extraordinary general meeting (EGM) has approved to reduce its issued capital to EGP 2.18 billion via writing off 5 million treasury stocks.

Furthermore, the EGM agreed to amend articles number 6 and 7 of the statute, according to a bourse filing released on Sunday.

Earlier in October 2016, the company had bought 3.6 million treasury shares for EGP 225 million.