Arab Finance: Korra Energi’s board of directors has approved a proposal to increase the company’s issued and paid-up capital by EGP 405 million through a rights issue, according to a disclosure filed with the Egyptian Exchange (EGX).

The planned increase will raise the company’s capital to EGP 855 million from EGP 450 million. Existing shareholders will be invited to subscribe to 0.90 new shares for every share held at par value of EGP 0.20.

Korra Energi also plans to allocate EGP 255 million of the proceeds to strengthen working capital across its projects, energy, and export businesses.

A further EGP 100 million will be used to settle outstanding obligations, including tax and financial leasing liabilities.

The company will also direct EGP 18 million toward purchasing assets required for its branches, while nearly EGP 32 million will be dedicated to cover marketing, administrative, and operating expenses.

It is worth noting that Korra Energi delivered strong financial performance in the first quarter (Q1) of 2026, reflecting its operational efficiency and ability to achieve sustainable added value, according to a press release.

This positive performance was driven by key improvements in profitability and cost management indicators, despite ongoing regional and global economic and geopolitical challenges.

At the end of March 2026, Korra Energi's revenues reached EGP 1.771 billion, compared to EGP 1.783 billion in Q1 2025. This stability was backed by the exceptional performance of the agricultural export sector, whose revenues jumped by 46.9% to EGP 331.1 million.