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Electrical cables firm raises capital to 1.3bn
The Egyptian Electrical Cables Company has decided to increase its authorized capital from 850 million pounds to 3 billion pounds, and its issued and paid-up capital from 662.7 million pounds to 1.31 billion pounds, representing an increase of 650 million pounds. This increase will be distributed over 3.25 billion shares with a nominal value of 20 piastres per share, in order to finance the new shares through a shareholder subscription offer. At the same time, the company's consolidated financial statements showed a shift to losses in the first quarter of 2026, recording losses of 241.7 million pounds compared to profits of 451.35 million pounds in the same period of 2025.
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