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EGX approves listing capital raise shares of Sidpec

EGX approves listing capital raise shares of Sidpec
The issued and paid-up capital will be raised to EGP 1.26 billion

Cairo – Mubasher: The Egyptian Exchange's (EGX) listing committee approved listing the capital raise shares of Sidi Kerir Petrochemicals Co. (Sidpec) through a bonus issue. 

The issued and paid-up capital will be raised to EGP 1.26 billion from EGP 1.05 billion by issuing 105 million bonus shares worth EGP 2 apiece or a total value of EGP 210 million, the EGX said in a statement on Monday. 

The eligibility of the 0.2-for-one bonus issue will be for shareholders owning shares until the end of the trading session on Monday, 1 November. 

During the first nine months of 2021, Sidpic turned to net profits of EGP 358 million, against net losses of EGP 75 million in the year-ago period.