Cairo – Mubasher: The Egyptian Exchange (EGX) said it received a disclosure report from Univert Food Industries, where it requests to secure the required approvals regarding increasing its issued capital.
Univert seeks to raise its capital from EGP 80 million to EGP 89.8 million, up by EGP 9.8 million.
The capital increase of EGP 9.8 million will be distributed across 9.8 million shares at EGP 1 par value each.
Last August, the company offered a right issue, to raise its capital from EGP 80 million to EGP 100 million, which was covered by only 49.03%.
The company said it will resort to credit facilities to complete its capital increase, as an alternative for the unsubscribed portion of its earlier rights issue.
