Arab Finance: Misr Chemical Industries Company’s extraordinary general meeting (EGM) has approved raising the issued and paid-up capital via the distribution of 0.5-for-1 bonus shares, as per a filing.
Thus, the capital shall be increased from EGP 292.5 million to EGP 438.75 million distributed over 109.688 million shares at a nominal value of EGP 4 per share.
Misr Chemical Industries owns a manufacturing plant that produces a range of chemical products including liquid caustic soda, caustic soda flakes, liquid chlorine, hydrochloric acid, and bleaching powder.