ArabFinance: The Financial Regulatory Authority (FRA) approved the publication of the invitation form calling El Obour Company for Real Estate Investment’s (OBRI) major shareholders to subscribe to the company’s rights issue, according to a statement filed to the Egyptian Exchange (EGX).
The company’s issued capital will increase to EGP 88.142 million from EGP 29.38 million.
The capital increase amounts to EGP 58.76 million distributed over 11.75 million shares at a par value of EGP 5 per share, in addition to issuance fees of EGP 0.12.
Established in 1994, El Ebour operates within the real estate sector, focusing on diversified real estate activities.