Arabia Investments to contribute to UE Finance's capital increase
Updated 3/15/2021 2:05:00 PM
ArabFinance: Arabia Investments Holding’s (AIH) board of directors approved increasing the capital of its 99.99%-owned subsidiary UE Finance by injecting EGP 20 million, according to the company’s filing to the Egyptian Exchange on March 15th.
The board also approved studying investment opportunities in the vehicle sector and mull obtaining a car dealership licence.
AIH reported a consolidated net profit of EGP 44.15 million in the January-September period of 2020, compared to EGP 36,593,878 achieved in the prior-year period.
AIH, formerly Arabia Investments Development Financial Investments Holding Company, is an Egypt-based company that invests in fields such as power, building materials, automotive, and oil and gas.
The company focuses on diversified development, offering infrastructure, construction, and industrial solutions.
