Arab Finance: The Financial Regulatory Authority (FRA) has approved the publication of Qalaa Holdings’ prospectus to proceed with convening its extraordinary general meeting (EGM) to decide on increasing the company’s issued and paid-up capital, as per a disclosure.
On September 10th, the company’s board agreed on the capital increase from EGP 21.132 billion to EGP 25 billion.
The capital hike amounts to EGP 3.867 billion and is divided into 773.536 million shares at a value of EGP 5 per share. It will be in-cash and dedicated to existing shareholders as per each’s ownership in the issue capital, allowing the trading of subscription rights.
It is worth noting that Qalaa Holdings is an Egypt-based company engaged in private equity investment activities, managing an investment portfolio that spans various industrial sectors, including energy, cement manufacturing, mining, and metallurgy.
