Cairo - Mubasher: Integrated Engineering Group’s board of directors approved increasing the company’s authorised capital to EGP 100 million from EGP 30 million during a meeting.

The board also greenlighted raising the issued and paid-up capital to EGP 29 million from EGP 15 million, representing a hike of EGP 14 million distributed among 140 million shares at a par value of EGP 0.10 per share and issue expenses of EGP 0.25, according to a stock exchange statement on Tuesday.

It is worth noting that during the first nine months (9M) of 2022, the EGX-listed firm incurred losses at EGP 298,220, compared to EGP 327,210 in the prior-year period.

In the meantime, revenues dipped to EGP 2.50 million in 9M-22, compared to EGP 14.77 million in 9M-21.