Arab Finance: Sidi Kerir Petrochemicals Company’s (Sidpec) ordinary and extraordinary general meetings (OGM and EGM) approved increasing the issued and paid-up capital by EGP 302.4 million distributed over 151.2 million shares at a par value of EGP 2 per share, as per a filing.

Accordingly, the company’s issued and paid-up capital will increase from EGP 1.512 billion to EGP 1.814 billion via the distribution of 0.2-for-1 bonus shares as of October 10^th.

The eligibility in the stock dividend distribution will be for shareholders of a record date on October 9^th.

Established in 1997, Sidpec is an EGX-listed company that operates within the materials sector focusing on commodity chemicals. It has subsidiaries across Egypt, working on textiles and refining oil and gas.

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