Cairo – Mubasher: The Egyptian Exchange said Wednesday that The Egyptian Company for Developing Building Materials (LIFT SLAB) submitted the required documents for its capital hike, according to a bourse filing.
The company plans to raise its issued capital from EGP 43 million to EG 54.9 million, divided into 5.49 million shares at EGP 10 each, the bourse statement revealed.
Earlier, the company entered into negotiations with with three Egyptian banks over a credit facility to finance the company’s expansions after its rights issue did not achieve the expected returns.
