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EGX approves listing of Maridive and Oil Services’ capital hike

EGX approves listing of Maridive and Oil Services’ capital hike
The company increased issued and paid-up capital
Maridive
MOIL
1.64% 0.18 0.00

Cairo – Mubasher: The Egyptian Exchange’s listing committee has approved the listing of the increase in Maridive and Oil Services’ authorised capital to $1 billion from $200 million.

The committee also listed the increase in the company’s issued and paid-up capital, according to a bourse statement released on Wednesday.

In October, the board of directors of Maridive and Oil Services decided to increase the company’s issued capital, based on shareholders’ approval on an extraordinary general meeting (EGM) to $188.1 million from $163.84 million.

It is noteworthy that during the first half of 2019, Maridive suffered net losses of $4.5 million, against net profits of $17.08 million in the year-ago period, including minority shareholders’ rights.