Arab Finance: The Financial Regulatory Authority (FRA) has approved the publication of the disclosure form of the decision of General Company for Silos and Storage’s (GSSC) board of directors regarding the capital increase, according to a statement filed to the Egyptian Exchange on September 4^th.

The company’s board previously agreed to raise the issued and paid-up capital to EGP 125 million from EGP 100 million.

The capital increase amounts to EGP 25 million distributed over 2.5 million shares at a nominal value of EGP 10 per share, representing 0.25-to-1 financed from the retained earnings as per the financial statement of the year ended June 30^th.

The capital hike is subject to the approval of the upcoming extraordinary general meeting (EGM) in a period of minimum 21 days from the publication date of the disclosure form.

GCSS is an Egypt-based company that operates in the food processing industry sector, particularly in the manufacture, trade, import, export, storage, package, and distribution of different types of grain and its derivatives, foodstuff, and yeast, as well as animal feed and its components.