Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved to increase the capital of Arabia Investments Holding to EGP 404.7 million from EGP 144.16 million.

The number of the company’s shares will be increased by 868.4 million shares at a nominal value of EGP 0.30 per share and a total issuance value of EGP 260 million fully paid, in addition to depositing EGP 1.2 million as issuance expenses, according to a filing to the Egyptian Exchange (EGX) on Wednesday.

Earlier in November, the company announced that the first and second phases of its rights issue to increase its issued capital were covered by 90.37% involving 868.4 million shares.

It is noteworthy that during the first half of 2019, Arabia Investments Holding’s net profit fell by 32.6% to EGP 31.6 million from EGP 46.9 million in H1-18, including minority shareholders’ rights.