Arab Finance: Korra Energi has completed its capital increase subscription, achieving a coverage rate of 99.8% of the total shares offered, as per a press release.

The transaction, which ran from October 18 to November 1, comprised 2.025 billion shares with a total nominal value of EGP 405 million. Shares were offered at a nominal price of EGP 0.20 each, in addition to an issuance fee of EGP 0.005 per share.

QNB Egypt, which acted as the receiving bank, processed the final subscription results, showing that investors subscribed to approximately 2.020 billion shares through 15,730 transactions.

Cash proceeds from the subscription amounted to EGP 414.3 million, including the shares' nominal value and issuance fees.

CEO Ayman Korra emphasized that these results reflect the shareholders' confidence in the company’s strategy and its future expansion plans within the energy and construction sectors.