Arab Moltaqa Investments Company (AMIC), an Egyptian joint stock company, announced the increase of its cash flows by EGP 3.8m, according to an official statement issued by the company on 21 September.
“In light of the decision of the Egyptian Financial supervisory Authority (EFSA), Arab Engineering Industries Company [are permitted] to start procedures of reducing the issued capital of the company by reducing nominal value of Share from EGP 10 to EGP 7.5,” the statement read.
The company, under its ownership of 50.76% of the Arab Engineering Industries company, is said to receive this amount through the representation of EGP 2.5 per share, which will lead to this cash flow increase.
AMIC has been listed in the Egyptian bourse since 1995.The company invests in a diversified range of economic sectors, covering a broad spectrum, which include industrial and agricultural investments, land reclamation and cultivation, livestock development, fisheries, real estate investments and tourism with total assets of more than EGP 1.9bn.
