Egypt Cement board approves LE 301 million capital increaseVisits : 152

Egypt Cement board approves LE 301 million capital increase

The Board of Directors of Misr Cement Company (Qena) approved the capital increase of LE 301.22 million to become the issued capital of the company 600 million pounds, at a nominal value of LE 10, in addition to issuance expenses. Subscription right is separate from the original share.
The Board also approved in the companys statement to the Stock Exchange on Wednesday the authorization of the Chairman of the Board of Directors and the Managing Director to open a bank account under the capital increase in the name of the company at one of the licensed banks to receive subscriptions in the increase, In the case of non-subscription in the whole increase or sufficiency of the subscribed, and the short subscription in the second phase to the subscribers in the first phase according to the subscription ratio.