Arab Finance: Asek Company for Mining’s (Ascom) board has approved decreasing its issued capital via writing off 5 million treasury shares, according to a filing on January 8^th.

Thus the capital shall be trimmed by EGP 50 million to EGP 500 million from EGP 550 million.

Ascom is an Egypt-based public shareholding company that operates primarily in the non-metal mining sector.

The company is engaged in geological exploration, mining and quarrying of raw materials, and developing mining operations for building materials and precious metals. This is in addition to being involved in manufacturing operations for ground calcium carbonate and rock as well as glass wool.

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