ArabFinance: The Financial Regulatory Authority (FRA) has approved to publish the disclosure on Cairo Oils and Soap’s (COSG) board decision to invite senior shareholders to subscribe in capital increase shares, according to a filing to the Egyptian Exchange (EGX) on Tuesday.

The board approved unanimously to increase issued and paid-up capital to EGP 234 million, from EGP 39 million through the issuance of 1.95 billion shares at nominal value of EGP 0.1 per share.

Moreover, Cairo Oils’ board also approved amendments to Articles 6 and 7 of the company’s articles of incorporation.

Subscription shall start as of March 23rd 2022, with the eligibility in subscription to shareholders until a record date of March 20th 2022.

Cairo Oils, a subsidiary of the Holding Company for Food Industries, is an Egypt-based holding company engaged in the manufacture, processing, packaging, import, export, and distribution of different types of seeds for the production of oil and soap.

The company primarily uses cotton seeds and soya beans for processing and producing cooking oil, soap, and detergent products under several brands.