Cairo – Mubasher: The board of Medical Packaging Company has approved the recommendation of increasing the company’s issued and paid-up capital from EGP 69 million to EGP 131 million.

The capital will be raised by EGP 62 million, distributed over 310 million shares at a nominal value of EGP 0.20  per share in addition to issuance fees worth EGP 0.02 a share, according to a bourse disclosure on Sunday.

It is worth noting that in the first nine months (9M) of 2021, Medical Packaging’s net profits stood at EGP 7.62 million, higher than EGP 4.72 million in 9M-20.

During the first quarter (Q1) of 2021, the firm logged net profits at a value of EGP 2.51 million, an annual growth of 54% from EGP 1.63 million.