Arab Finance: The extraordinary general meeting (EGM) of Sidi Kerir Petrochemicals Company (Sidpec) approved raising the issued and paid-up capital to EGP 2.268 billion from EGP 1.814 billion, as per a bourse disclosure.

The EGX-listed firm will increase its capital by EGP 453.600 million through the issuance of 226.8 million shares at a nominal value of EGP 2 per share.

This capital hike will be financed from Sidpec’s 2024 profits, shown in the financial statments for the period ended December 2024.

In 2024, Sidpec posted a 3.25% year-on-year (YoY) uptick in net profits after tax, recording EGP 2.539 billion, versus EGP 2.459 billion in 2023.

It is noteworthy that the company recorded net profits after tax valued at EGP 1.503 billion in the first nine months of 2025.

Established in 1997 and listed on EGX in 2005, Sidpec operates within the materials sector focusing on commodity chemicals. It has subsidiaries operating across Egypt, working on textiles and oil and gas refining.

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