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EGX sets opening price of Lift Slab's right issue

EGX sets opening price of Lift Slab's right issue

ArabFinance: The Egyptian Exchange's operations committee set the opening price of Egyptian for Construction Development's (Lift Slab) right issue in the first trading day at EGP 0.728 per each.

The operations committee stated that the price limits of the right issue will be calculated based on the price moves during the trading session.

The share will be traded away from the right issue, starting July 5th until July 6th with the determined value of the share's closing price at EGP 3000.

The right issue will be traded separately from the share starting July 7th till August 5th. During this period, the closing price of the right will be EGP 7,067.96 and EGP 19,398.06  for the share. 

The company will increase issued capital by EGP 84,188,361 from EGP 56,125,574.40 to EGP 140,313,936. The increase will be distributed over 67,893,840 shares at par value of EGP 1.24 per each as well as issuance outlays of EGP 0.03.

Lift Slab is an Egypt-based public shareholding company engaged in the construction and development of industrial buildings and facilities. The company implements hydraulic driving force technology in constructing roofs, tunnels, pipes, bridges and other engineering constructions, as well as infrastructure work of water, sewage, and electricity facilities.

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