Misr Insurance capital to rise 134%

CAIRO – 6 July 2017: The extraordinary general meeting of Misr Insurance Holding Company approved raising the capital 134 percent, according to the official gazette on Thursday.

The capital will be increased from LE 2,500 million ($139.7 million) to LE 5,850 million, instead of LE 3,350 million, owing to the amendments introduced to the capitals of the affiliated companies.

Moreover, Article 6 of the company’s articles of association was amended to be in line with the capital hike and number of shares.