Egypt’s Misr Beni Suef seeks 25 per cent capital hike

Egypt’s Misr Beni Suef seeks 25 per cent capital hike
21 March 2011


The board of Egypt’s Misr Beni Suef Cement said it had proposed increasing the company’s capital by E£100m (US$16.9m) to support its capital base.

If shareholders approve the proposal, the cement maker’s capital will rise 25 per cent to E£500m, it said in a statement released by the stock exchange on Sunday.

The company said last week its 2010 net profit fell 22 per cent to E£303.9m.

Published under Cement News