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Nasr Company for Civil Works’ board nods to capital raise

Nasr Company for Civil Works’ board nods to capital raise
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Nasr Co for Civil Works
NCCW
-6.45% 14.95 -1.03

Cairo – Mubasher: The board of directors of Nasr Company for Civil Works approved raising the company’s authorised capital to EGP 500 million from EGP 200 million, during a meeting on 23 January 2023.

In addition, it approved increasing the issued and paid-up capital to EGP 240 million from EGP 100 million by raising the share’s nominal value, according to a stock exchange statement on Tuesday.

The two decisions are subject to the extraordinary general meeting's (EGM) approval.

It is worth noting that during the first nine months (9M) of 2022, the net losses of the EGX-listed amounted to EGP 21.26 million, compared to EGP 14.80 million in the year-ago period.

Revenues reached EGP 79.77 million in 9M-22, a rise from EGP 76.10 million in 9M-21.