24 Hrs
Source:
المصري اليوم
Qara boosts capital by 405M pounds
Qara for Energy Projects and Investment has decided to increase its paid-up capital from 450 million EGP to 855 million EGP, an increase of 405 million EGP. This will be achieved by inviting existing shareholders to subscribe to new shares at a ratio of 0.90 share for every original share, with a nominal value of 0.20 EGP, plus an additional 2.5% issuance and trading fees for the subscription rights, payable separately. The company's purpose for this increase is to strengthen its working capital in the sectors of projects, energy, and export, with an amount of up to 255 million EGP. Additionally, it aims to settle tax and leasing obligations totaling 100 million EGP, acquire branch assets worth 18 million EGP, and cover marketing, administrative, and operational expenses amounting to around 32 million EGP.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)