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Arabia Investments, Nasr Company for Civil Works unveil capital hike

Arabia Investments, Nasr Company for Civil Works unveil capital hike
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Arabia Investments Holding
AIH
-0.59% 0.50 -0.00
Nasr Co for Civil Works
NCCW
-3.06% 4.75 -0.15

Cairo – Mubasher: The shareholders of Arabia Investments Holding and Nasr Company for Civil Works agreed to increase the company’s issued and paid-up capital.

Arabia Investments plans to raise its capital to EGP 467.43 million from EGP 424.94 million through the issuance of 0.10 bonus share for each owned share.

The EGX-listed firm will increase its capital by EGP 42.49 million to be distributed over 141.64 million shares at a nominal value of EGP 0.30 per share.

In December 2023, the company raised the capital for two of its units Rawaj Consumer Finance and UE Finance.

Nasr Company for Civil Works

The extraordinary general meeting (EGM) of Nasr Company for Civil Works greenlighted EGP 11.38 million capital hike to EGP 161.38 million from EGP 150 million.

The increase amount will be distributed over 11.38 million shares at a nominal value of EGP 1 per share.

Last September, the Financial Regulatory Authority (FRA) passed the company’s capital hike to EGP 150 million from EGP 100 million.

It is worth highlighting that the shareholders of the two listed companies granted their approvals for the transactions on 1 May 2024, according to bourse disclosures.