The Egyptian Financial Supervisory Authority (EFSA) said on Monday it approved a request from Atlas Land Reclamation & Agricultural Processing (ATLAS) to raise its capital to EGP 60 million from EGP 20 million.

The EPG 40 million increase will be divided into 4 million shares to be subscribed to by shareholders.

The company had posted a profit rise to EGP 3.9 million in the first nine months of FY14.

Photo Credit: Arabianeye-Reuters