Cairo – Mubasher: The shareholders of Alexandria Spinning and Weaving Company (Spinalex), during the extraordinary general meeting (EGM), agreed to raise the paid-up capital by EGP 80.16 million.

Spinalex’s increase amount will be distributed over 40.08 million shares at a par value of EGP 2 each, according to an official statement to the Egyptian Exchange (EGX).

Following the raise transaction, the paid-up capital will stand at EGP 721.44 million compared to EGP 641.28 million prior to the increase.

The shareholders also set the authorized capital of Spinalex at EGP 1 billion.