Cairo – Mubasher: The rights issue of Egyptian for Developing Building Materials (LIFT SLAB) was covered by 4.93% in the first phase, said the company in a bourse filing.
Around 212,200 shares were subscribed at EGP 2.17 million, the company added.
The second phase will start directly after IFT SLAB obtains the approval of the Egyptian Financial Supervisory Authority, said the company.
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.
