Cairo – Mubasher: The board of directors of the Egyptian Company for Construction Development (Lift Slab Misr) decided to increase the issued capital as subscription to its capital raise was covered by 100%.

The company’s capital will be raised by EGP 84.18 million to EGP 140.31 million from EGP 56.12 million, according to a bourse disclosure on Tuesday.

The total number of covered shares amounted to 67.89 million shares at a value of EGP 86.2 million, including issuance expenses.

During the first half (H1) of 2020, Lift Slab Misr’s net profits leapt by 1,558% to EGP 3.79 million from EGP 228,668 in H1-19.