ArabFinance: The Financial Regulatory Authority (FRA) approved to publish the disclosure regarding the decision of General Company for Ceramic and Porcelain’s (Sheeni Egypt) (PRCL) board of directors on the company’s capital increase, according to a statement field to the Egyptian Exchange (EGX).

The board previously approved to raise the company’s authorized capital to EGP 450 million from EGP 150 million, as well as to increase the issued and paid-up capital to EGP 402.92 million from EGP 100.731 million.

The issued and paid-up capital increase amounts to EGP 302.19 million distributed over 151.09 million shares at a par value of EGP 2 per share.

Sheeni is an Egypt-based company engaged in the manufacture and sale of ceramic and porcelain products. It produces porcelain tableware for domestic and hotels, and antiques and vases, as well as ceramic floors and walls.