Cairo – Mubasher: Egyptian Iron and Steel (HADISOLB) said its rights issue was subscribed by 98.35%, according to a bourse statement.
The number of subscribed shares reached 40.81 million, the company added in its statement to the Egyptian Exchange (EGX) on Thursday.
The subscription of the remaining shares represent 1.65% of increasing shares, namely 8.06 million shares, with a value EGP 16.5 million. Those will be available after the Egyptian Financial Supervisory Authority’s (EFSA) approval, the company clarified.
HADISOLB’s OGM had approved last November to put up 488.4 million increasing shares for subscription with a nominal value of EGP 2, in addition to issuing expenses worth EGP 0.55.
The company’s capital amounts to EGP 976.87 million.
HADISOLB’s stock price recorded EGP 2.05.
