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Lift Slab trades rights issue at EGP 0.38/ right

Lift Slab trades rights issue at EGP 0.38/ right

ArabFinance: EGX's operations committee decided that the opening price of the Egyptian Company for Construction Development (Lift Slab) (EDBM) right issue at first trading day is EGP 0.38 per right.

Operations committee stated that the price limits of the right issue will be calculated according to the available value price range of underlying share's movement through the trading session.

The value that determines the close price of underlying share and separated right will be as the following:

Underlying stock's trading period away from the right issue would be started from July 03, 2019, until July 04, 2019, as the determined close value of the company share amounts EGP 10,000.

Starting July 07, 2019, until August 04, 2019, the right issue will be traded separately from underlying stock, the determined close value of the right issue amounts EGP 1,630.58 and EGP 28,515.62 for the underlying stock.

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