Financial Supervisory Authority rejects ASEC capital increase

Financial Supervisory Authority rejects ASEC capital increase
07 June 2011


The Egyptian Financial Supervisory Authority (EFSA) rejected ASEC Mining’s request to increase its capital from EGP350m to EGP450m (US$58.9m and US$75.7m) by issuing 10m shares at par value of EGP10/share, according to a report in Mubasher. The move had been approved by the Company’s Board of Directors held on 2 June, 2011.
Published under Cement News