Cairo – Mubasher: The board of Advanced Pharmaceutical Packaging approved hiking the company’s capital by EGP 22.46 million through 1/4-for-1 bonus share distribution, according to a bourse filing on Thursday.
This increase will be used in expansions and the increase as well as renewal of production lines.
The board also gave the green light to issuing ten-year bonds at EGP 10 each transferable into 4 shares per bond after two years, the statement revealed, assuring that study is still underway to determine the issuance size.
The company operates with EGP 89.8 million at a EGP 10 nominal value per share.
By 11:37am Cairo time, the stock quote was down 5.2% to EGP 2.35.
