11 Egyptian companies’ capital rises to $107 mln in May – ministry

Egypt’s Investment Ministry said 11 companies increased their capital with a combined value worth 1.8 billion Egyptian pounds ($107.4 million) during the period from 23 May to 29 May.

Naeem Holding for Investment topped up its capital by 401.7 billion pounds, while Misr Beni Suef Cement raised its capital by 390 million pounds, the ministry said in a statement.

Additionally, Misr National Steel (Ataqa), International Free Trade Corporation, and Bayt El Khebra for Factoring increased their capital by 300 million pounds, 200 million pounds, and 90 million pounds, respectively.

Furthermore, El Ahram for Plastic Works, Samcrete Egypt Engineers and Contractors, a company for tourism investment, Saudi Co. For Pharmaceutical Industries (Spimaco), El-Mohr for Car Trade and Import, and Suez Company For Fertilizer Production raised their capital by 90 million pounds, 85 million pounds, 80 million pounds, 66.879 million pounds, 60 million pounds, and 50 million pounds, respectively.