Cairo – Mubasher: Egyptian Financial Regulatory Authority (FRA) agreed in principle to increase Arabia Investments Holding’s capital to EGP 432.5 million.

Subscription to the capital increase shares shall be for shareholders owning shares until the end of trading session on 18 September, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.

The subscription will be opened starting from 23 September till 17 October, the statement added.

It is noteworthy that Arabia Investments Holding’s ordinary general meeting (OGM) approved increasing the company's issued and paid-up capital to EGP 432.5 million from EGP 144.17 million.

The company’s issued and paid-up capital will be raised by EGP 288.33 million, distributed over 961.11 million shares at a nominal value of EGP 0.30 per share, in addition to issuance expenses of EGP 0.14 a share.  

During the first half of 2019, Arabia Investments Holding’s profit slid to EGP 31.6 million from EGP 46.9 million in H1-18, including minority shareholders’ rights.