Arab Finance: Alexandria Spinning and Weaving Company’s (Spinalex) ordinary general meeting (OGM) has decided to distribute 0.125-for-1 bonus shares for fiscal year (FY) 2023/2024, as per a filing.
Hence, the capital shall increase by EGP 80.16 million through the distribution of 40.08 million bonus shares at a nominal value of EGP 2 per share.
Spinalex is one of the leading spinning companies in Egypt, the firm produces nearly 2,200 tons annually of 100% Egyptian and American cotton yarns for export worldwide. The company’s products include compact, gassed, final & coarse combed, and carded yarns.
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