NUDAP to increase issued, authorized capitals
Updated 9/1/2020 4:44:38 PM
ArabFinance: North Upper Egypt for Development and Agricultural Production’s (NUDAP) board of directors approved issued and paid-up capital increase by EGP 126,993,100 from EGP 63,496,550 to EGP 130,489,650, according to the company’s September 1st statement filed to the Egyptian Exchange.
The company will invite shareholders to subscribe to 126,993,100 shares of the capital increase with 3% issuance outlays of the share’s par value.
In addition, the board ratifies authorized capital increase from EGP 150 million to EGP 300 million.
NUDAP decided to split its shares' par value to be EGP 1 instead of EGP 10, maintaining the issued and paid-up capital unchanged, the statement added.
NUDAP is an Egypt-based public shareholding company that operates in the agricultural sector. The company is primarily engaged in producing and trading agricultural chemicals such as fertilizers, insecticides, and pesticides.
