Arab Finance: The Egyptian Exchange’s (EGX) Listing Committee has approved listing an increase of EGP 302.4 million for Sidi Kerir Petrochemicals’ (Sidpec) issued and paid-up capital, the EGX disclosed. 

This increase is distributed over 151.2 million shares, equivalent to 0.2-for-1 bonus shares, at a par value of EGP 2 per share.

Thus, the capital will be increased to EGP 1.814 billion from EGP 1.512 billion.

The 0.2-for-1 bonus shares will be distributed with the eligibility for shareholders on a record date of October 9^th. 

Following the capital increase, the firm’s shares will be registered on the EGX’s database as of October 10^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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