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Modern Education Systems' rights issue to start trading at EGP 0.030/right

Modern Education Systems' rights issue to start trading at EGP 0.030/right

ArabFinance: EGX's operations committee decided that the opening price of Modern Education Systems Company's (MOED) right issue at first trading day is EGP 0.030 per right.

Operations committee stated that the price limits of the right issue will be calculated based on the available move of the price range during the trading session. 

The underlying stock will be traded away from the right issue, starting 09/09/2019 till 10/09/2019 with the determined closing price of the underlying stock will be EGP 3000.

The right issue will be traded separately from the underlying stock starting 11/09/2019 till 7/10/2019, with the closing price of the right issue of EGP 807.17 while the determined closing price of the underlying stock is amounting to EGP 28,385.65.

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