Cairo – Mubasher: The Egyptian Company for Developing Building Materials (LIFT SLAB) said that its rights issue was covered by 27.81% in the second phase, according to a bourse filing.
The company offered 4.08 million shares at EGP 10 each, totaling EGP 41.9 million, but only 983,700 shares were requested at EGP 10 million.
In the first phase, the rights issue was subscribed by 4.93%, the company earlier stated in a bourse filing
On the fifth of FY16 January, the ordinary general meeting approved raising issued capital to EGP 86 million from EGP 43 million, which are distributed over 4.3 million shares at a par value of EGP 1 each.
