Egypt’s Eastern Company board approves US$84 mln capital hike

The board of Egypt's top cigarette maker, Eastern Company, approved a capital hike of 750 million Egyptian pounds (US$84 million) on Sunday through the distribution of one free share per existing original share.
This would bring the company's issued capital to 1.5 billion Egyptian pounds from 750 million and its authorised capital up to 3 billion from 1.5 billion, it said in a statement to the Cairo stock exchange.

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