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FRA oks Lift Slab’s subscription to remaining shares

FRA oks Lift Slab’s subscription to remaining shares

ArabFinance: Financial Regulatory Authority (FRA) approved publishing Egyptian Developing Building Materials’ (Lift Slab) (EDBM) invitation for existing shareholders to subscribe to the remaining capital increase shares that amount to 2.8 million shares.

The issued capital will be hiked to EGP 65 million from EGP 34 million, with an increase amounting to EGP 31 million. The capital increase will be distributed over 5 million shares at par value of EGP 6.20 per share with issuance expenses EGP 0.10.

Subscription will be opened for five days starting on August 25, 2019, and ending on August 29, 2019.

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