Cairo – Mubasher: Cairo Development and Investment has filed with the Egyptian Exchange (EGX) to raise issued capital from EGP50 million from EGP100 million, according to a bourse filing.
The increase of EGP50 million will be distributed across 25 million shares at EGP 2 par value each, in addition to issuing fees of 4 piasters per each share.
Earlier, the company’s board nodded to increase capital through a rights issue, where the company will offer 25 million shares for subscription and shareholders will be entitled to subscribe to one share per each owned share at par value EGP 2 each.
In the first phase, the company's rights issue was covered by 78.79%, while the second phase was covered by 17.71 times, according to a statement.
