Cairo – Mubasher: The extraordinary general meeting (EGM) of the General Company for Silos and Storage approved raising the company’s capital by EGP 25 million via bonus shares.

The company’s issued and paid-up capital will be increased to EGP 125 million from EGP 100 million, according to a bourse statement on Sunday.

The capital hike will be distributed on 2.50 million shares at a nominal value of EGP 10 per share. 

Last September, the Financial Regulatory Authority (FRA) approved publishing the disclosure form submitted by the General Company for Silos regarding a capital hike request.

It is worth noting that during the period from July 2021 to May 2022, the EGX-listed firm registered EGP 103.03 million in net earnings, compared to EGP 94.27 million in the year-ago period.