November 21, 2020

Egypt Gas to list capital increase shares


ArabFinance: Egypt Gas submitted to the Egyptian Exchange (EGX) to list the increase of authorized capital and shares of issued and paid-in capital rise, according to EGX disclosure.

The company also introduced documents to list the purpose’s amendment.

Egypt Gas has intended to increase authorized capital from EGP 500 million to EGP 1 billion, as well as the issued and paid-in capital from EGP 240 million to EGP 480 million.

The issued capital increase amounts to EGP 240 million to be distributed on 24 million shares at a par value of 10 per each.

The company posted a net profit after tax stood at EGP 9.068.755 in the January-September period of 2020, a 67% decline from EGP 27,812,237 achieved in the prior-year period.

Egypt Gas is an Egypt-based shareholding company engaged in the design, installation, operation, and maintenance of natural gas distribution networks and pressure reduction stations for domestics, commercial, and industrial applications.

arabfinance


Categories : oil and gas

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