Egypt’s South Valley Cement agrees capital raise

Egypt’s South Valley Cement agrees capital raise
Published: 17 June 2008

South Valley Cement, Egypt’s largest cement firm by market value, agreed at a general assembly meeting to raise its paid-up and issued capital, according to minutes of the meeting released on Monday.

The company agreed to raise its capital to E£2.07bn (US$387m) from E£1.48bn, according to the minutes. It said it may distribute free shares, but did not give further details.