Issued capital of Egyptian companies declines in 2013

Ahram Online, Thursday 23 Jan 2014

Official figures released by IDSC show a significant decrease in issued capital of companies in Egypt

The number of joint-stock companies established in Egypt increased by 9.2 percent between January and November 2013 compared with the same period a year earlier, to reach 7,666 companies, figures from the government’s Information and Decision Support Centre (IDSC) show.

However, the issued capital of the newly established companies fell by almost 17 percent during the same period, to LE9.13 billion. Capital increase by existing companies fell significantly by almost 48 percent to LE 24.3 billion ($3.5 billion) as opposed to LE46.36 billion November 2012.

Bankruptcy cases increased in October according to latest figures from the justice ministry, from 65 cases in October 2012 to 93 cases in October 2013.

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