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Porto Group gets FRA approval to increase capital

Porto Group gets FRA approval to increase capital

ArabFinance: Financial Regulatory Authority (FRA) approved on June 26, publishing Porto Group's (PORT) disclosure report to conduct procedures for amending the par value to LE0.60 from LE0.10, as well as increasing the issued capital to LE1,140,000,000 from LE601,859,893. 

The capital hike will be distributed over 896,900,178 stocks at the par value of LE0.60 (after amending) financed in cash by calling the existing shareholders to subscribe to the capital hike shares. The Company added the right issued will be run separately from the underlying stock, according to the provisions of article No. 48 of EGX's listing rules. 

 

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