Cairo - Mubasher: The shareholders of Sidi Kerir Petrochemicals Company (Sidpec) greenlighted a capital increase to EGP 2.26 billion from EGP 1.81 billion.

The EGP 453.60 million raise will be executed through the issuance of 226.80 million new shares at a nominal value of EGP 2 each, according to a bourse filing.

The increase will be financed from the company’s 2024 net profits, at a ratio of one new share for every four existing shares, with fractions rounded for minority shareholders.

The extraordinary general assembly also approved the transaction on 20 October 2025.

During the first nine months (9M) of 2025, Sidpec registered an annual drop of 20.43% in net profits after tax to EGP 1.50 billion, compared with EGP 1.88 billion.