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Lift Slab announces use of capital hike's funds

Lift Slab announces use of capital hike's funds

ArabFinance: Egyptian Developing Building Materials (Lift Slab) (EDBM) stated the utilization of capital hike's funds in light of the result of the subscription that was covered by 71.07% from the offered shares.

The company said in a statement sent to the Egyptian Stock Exchange (EGX), it will utilize EGP 11.050 million instead of EGP 20.393 in rehabilitation its equipment of construction works. 

3 warehouses and workshop will be purchased worth EGP 3 million by the company to stop wasting money in renting the current warehouse and workshop, the company said. 

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