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ICMI 1st phase subscription covered 38.83%, intends to run 2nd phase

ICMI 1st phase subscription covered 38.83%, intends to run 2nd phase

ArabFinance: International Company for Medical Industries (ICMI), announced on February 07, 2018, the coverage of the subscription's first phase that had been started from January 04, 2017, and ending January 30, 2018, as it has been subscribed into 38.83% from the offered shares.

The covered shares are 11,705,602 shares out of 30,148,815 subscription's offered shares with par value of LE1, in addition to LE0.025 issuance fees.

ICMI had intended to hike issued capital to LE42,148,815 from LE12 million with increase amounting to LE30,148,815. The capital increase would be distributed over 30,148,815 shares at par value of LE1 with issuance fees of LE2.5 per share. Capital increase's stocks will be financed only in cash.

It is worth to mention, the Company has intended to offer the remaining shares of the first phase for the existing shareholders who did not sell the capital increase's right issue and right issue holders without restricted with subscription ratio. 

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