Cairo – Mubasher: The extraordinary general meeting (EGM) of Rubex International for Plastic and Acrylic Manufacturing approved a proposal to raise its issued and paid-up capital via a rights issue.  

Shareholders agreed to increase the company’s capital to EGP 150 million from EGP 100 million through the issuance of 10 million shares at a nominal value of EGP 5 apiece in addition to issuance expenses of EGP 0.05 per share, the company said in a bourse disclosure on Tuesday.

It is worth mentioning that during 2019, the company’s net profit fell to EGP 6.67 million from EGP 15.2 million a year before.