The board of Industrial and Engineering Enterprises Company (IEEC) approved acquiring Enterprise Sigma Technology’s shares for an amount of EGP 300 million

Industrial and Engineering Enterprises Co (IEEC) posted an 8.8% year-on-year (YoY) decline in net profits after tax during the first quarter (Q1) of 2023.

The Financial Regulatory Authority (FRA) has approved in principle for the Industrial and Engineering Enterprises Company to invite senior shareholders to subscribe to the uncovered shares of the rights issue.

Industrial and Engineering Enterprises undertakes public contracting activities and specifically civil constructions as well as supplying and assembling mechanical and electrical equipment for water draining, drinking water stations, irrigation and subterranean drainage.

Industrial and Engineering Enterprises Company posted a 54.3% annual drop in net profits after tax in 2022 to EGP 1.37 million.