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FRA greenlights Nasr Company for Civil Works’ capital raise

FRA greenlights Nasr Company for Civil Works’ capital raise
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Nasr Co for Civil Works
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Cairo – Mubasher: Nasr Company for Civil Works has received the approval of the Financial Regulatory Authority (FRA) to proceed with the capital hike procedures.   

The EGX-listed firm plans to increase its issued and paid-up capital by EGP 50 million to EGP 150 million from EGP 100 million, according to a bourse filing.

Under the board’s decision, the company will also raise the authorised capital to EGP 500 million from EGP 200 million.

The capital hike proposal is still subject to the approval of the extraordinary general meeting (EGM).

Earlier in 2023, Nasr Company for Civil Works won a project contract valued at EGP 120 million from Egypt’s Ministry of Transport.