Arab Finance: Nasr Company for Civil Works’ (NCCW) board has endorsed increasing the authorized capital to EGP 500 million from EGP 200 million, the company disclosed on July 18^th.

The board has also approved raising the issued and paid-up capital to EGP 150 million from EGP 100 million via the issuance of 0.5-for-1 bonus shares.

In the first quarter (Q1) of the year, the firm incurred net losses after tax of EGP 204,000, versus net profits after tax of EGP 147,770 in Q1 2022.

Nasr for Civil Works is an Egypt-based public shareholding company engaged in the construction sector. The company provides construction and development contracting services for infrastructural projects related to energy, utilities, housing, roads, and ports.

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