Egyptian Chemical Industries S.A.E (CASE:EGCH) announced a private placement of 245,000,000 common shares at a price of EGP 5 per share for gross proceeds of EGP 1,225,000,000 on June 11, 2018. The transaction will include participation from old shareholders. Post completion of this transaction, the company's issued and paid up capital will increase from EGP 3,160,000,000 to 4,385,000,000. The transaction was approved by the shareholders of the company in its extraordinary general meeting.