Cairo – Mubasher: The Egyptian Exchange's (EGX) listing committee approved a decision to list the capital increase shares of the Egyptian Chemical Industries (Kima). 

The company's issued capital will be increased by EGP 1.467 billion to EGP 5.93 billion from EGP 4.46 billion through the issuance of 293.59 million shares at a nominal value of EGP 5 apiece, the EGX said in a statement on Tuesday. 

The capital raise shares will be listed starting from the trading session on Monday, 8 November. 

Moreover, the authorised capital will be raised to EGP 8 billion from EGP 6 billion.

In fiscal year (FY) 2020/2021, Kima incurred net losses of EGP 1.42 billion, up from EGP 1.35 billion a year earlier.