Arab Finance: The board of Al Khair River for Development, Agricultural Investment, and Environmental Services agreed to increase the issued and paid-up capital to EGP 390 million from EGP 200 million, according to a bourse disclosure.
The EGX-listed firm will raise capital by EGP 190 million for major shareholders in cash or through using credit balances due to shareholders at a rate of 95 shares for each share at a value of EGP 0.10 per share.
Meanwhile, the capital hike aims to support the company’s operational and investment expansions.