Cairo – Mubasher: Egyptian Chemical Industries (Kima) said Wednesday that record date for its rights issue would be on 3 January 2017.
The subscription period will last for a month starting from 9 January 2016, the company added, clarified that it could end earlier if the issue is totally covered.
Existing shareholders will be entitled to subscribe in 42% of their stakes in the issued capital before the top-up, the filing indicated.
Earlier, the board of directors agreed on hiking its issued capital to EGP 2.89 billion from EGP 2.03 billion through calling the existing shareholders to subscribe in 171.42 million shares worth EGP 5 each, totaling EGP 857.12 million, the bourse filing revealed.
