ArabFinance: Mena for Touristic and Real Estate Investment (MENA) announced that 64.924 million shares of the rights issue shares were oversubscribed at a coverage ratio of 43.28%, according to a statement filed to the Egyptian Exchange (EGX).

The number of the remaining shares to be offered for subscription is 85.075 million shares.

It is worth noting that the company previously called for subscription to rights issue shares totaling 150 million at a nominal value of EGP 1 per share, in order to raise the company’s capital to EGP 300 million from EGP 150 million.

Mena, established in 1980, operates in the fields of construction, real estate investment, project management, and urban development both locally and internationally.