Arab Finance: The Securities Registration Committee decided, in its session held on September 25, 2024, to approve the registration of shares to increase the issued and paid-up capital of the company. Sidi Kerir Petrochemicals – Sidipec (SKPC)From 1.512 billion Egyptian pounds to 1.8144 billion Egyptian pounds, an increase of 302.4 million Egyptian pounds, through the issuance of 151,200,000 shares with a nominal value of 2 Egyptian pounds per share, (at 0.2 bonus shares for each original share before the increase) financed by the shareholders’ share in Dividend distributions, according to the company’s financial statements on 12-31-2023, represent the increase (fifth issue), in the Egyptian securities registration table, as “shares”.
Note that the right to the free distribution (0.2 free shares for each original share) is for the share buyer until the end of the trading session on Wednesday, 10/09/2024, and the company’s shares will be listed after the free increase on the database, with a reference price for the company’s shares determined as of The beginning of the trading session on Thursday, 10/10/2024.
Sidi Kerir Company is the first integrated step in the petrochemical industry in Egypt. It always seeks to participate in achieving national goals such as producing value-added products using available raw materials, as well as developing local industries that rely on those products. The company produces polyethylene (high-density and low-density linear ) Using ethylene, which is produced by processing ethane/propane gases – coming from the Western Desert Gas Complex, “GASCO Company” – within the framework of the best production technologies based on energy saving and environmental friendliness. “Egyptene” is the trademark of the company’s products and is considered one of the best known products in Manufacture of polyethylene locally and internationally. The company also produces intermediate products such as butane and butane.
Related news
