The board of Sohag National Company for Food Industries approved raising its capital from EGP 6.3 million to EGP 69.3 million through a rights issue for existing shareholders, said the company’s chairman, Mamdouh Gerges.
The board also gave a nod to shareholders’ earlier decision to reduce the company's share par value from EGP 10 to EGP 2.9 per share, said Gerges.
Sohag National is capitalised at EGP 21.735 million, distributed across 2.173 million shares at EGP 10 par value each.
