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FRA approves Oriental Weavers capital hike shares’ issuance

FRA approves Oriental Weavers capital hike shares’ issuance

ArabFinance: Financial Regulatory Authority (FRA) approved on August 22, 2019, the request of Oriental Weavers Carpet Company (ORWE) to issue shares for the company’s capital increase.

The company will raise the issued capital to EGP 665 million from EGP 443.4 million, with the increase amounting to EGP 221.7 million.

It will issue 221.7 million shares with a par value of EGP 1 per share.

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