Cairo - Mubasher: The extraordinary general meeting (EGM) of Sidi Kerir Petrochemicals (Sidpec) approved a decision to increase the issued and paid-up capital by EGP 210 million. 

The issued capital will be raised to EGP 1.26 billion through a one-for-five bonus issue, totalling 105 million bonus shares worth EGP 2 apiece, the company said in a bourse disclosure on Monday. 

During the first quarter (Q1) of 2021, Sidpec turned to net profits of EGP 151.74 million, versus net losses of EGP 31.28 million in the year-ago period.