Sinai Cement may double capital to E£700m

Sinai Cement may double capital to E£700m
Published: 17 October 2008

Sinai Cement, an Egyptian cement producer, plans to double its capital to E£700m (US$125m) by distributing 35m free shares.

The company will distribute the free shares for every share held by investors, the Cairo-based company said in a statement posted on the Web site of the Egyptian Exchange today.

A general assembly will be held on Nov. 15 to approve the measure, the company said.