The board of Golden Coast Co. approved raising issued capital to EGP 50 million from EGP 20 million through a rights issue.

The company said, in a bourse statement, the board authorized the its chairman to invite shareholders to attend an extraordinary general meeting to look into the planned capital hike.

Golden Coast is capitalized at EGP 20 million, divided into 2 million shares at EGP 10 par value each. Meanwhile, the company’s market value on EGX amounts to more than EGP 54 million.

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