Arab Finance: The Egyptian Exchange’s (EGX) listing committee has approved listing the issued and paid-up capital increase of the International Agricultural Products (IFAP), the EGX announced on July 5^th.

The firm will increase the issued and paid capital to EGP 184.879 million from EGP 168.072 million, with an increase amounting to EGP 16.807 million.

The capital hike will be carried out via issuing 8.403 million shares at a par value of EGP 2 per share.

Shareholders of record are eligible to the distribution of 0.1 bonus share for every share until the end of July 5^th’s trading session.

The company’s shares will be listed after the capital increase on the EGX's database with determining a reference price for its shares as of July 6^th.

The public shareholding company is engaged in farming, trading, and distribution of crops and seeds. The company purchases cotton flowers and cotton seeds from producers, undertakes contracting activities with cotton ginning companies, and trades in cotton fibers and seeds.

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