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Medical Packaging to raise issued capital to EGP 69M

Medical Packaging to raise issued capital to EGP 69M

ArabFinance: Medical Packaging Company (MEPA) received the approval of the Financial Regulatory Authority on increasing the company’s issued capital to EGP 69 million, as per a bourse filing Wednesday.

On January 17, the company said that the subscription's second phase of its capital increase has been covered at 7.813% of the total offered shares, where the covered shares reached 5 million, with the total amount of EGP 5.1 million.

The company targeted EGP 64 million from the subscription, so that it can raise its capital to EGP 128 million from EGP 64 million.

The capital increase would be distributed over 64 million shares at par value of LE1 per share with issuance fees of LE0.02.

Moreover, the listed company amended Articles (6 and 7) of its bylaws, according to its statement.

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