Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved the disclosure report of Nile Pharmaceuticals and Chemical Industries – Nile regarding the capital increase.
According to the FRA, the disclosure includes proceeding with the procedures for convening the Extraordinary General Assembly to consider increasing the issued and paid-up capital from EGP 500 million to EGP 1 billion.
This will be through a cash increase of EGP 500 million distributed over 50 million shares with a nominal value of EGP 10 per share, with the application of priority rights for existing shareholders and without issuance expenses.
The reasons for the capital increase included repaying loans and burdens resulting from the development of production areas to meet new manufacturing requirements.
The FRA obligated the company to the following:
– The company's commitment to publish the detailed feasibility study or a detailed study on the uses of the increase proceeds and its justifications on the stock exchange advertising screens before convening the assembly.
– The assembly's agenda must include an independent item to approve the study.
– The company's commitment to publish the study of the fair value of the share at least five working days before opening the subscription door.
– Informing the Authority of the proposal to distribute free shares worth EGP 189.1 million (proposed at its session held on September 21, 2026) after fulfilling all required data and documents in preparation for submitting them to the Ordinary and Extraordinary General Assemblies for approval.
