Barbary Investment Group
BIGP
BIGP
The Egyptian Financial Supervisory Authority (EFSA) announced it initially approved a request from BIG Trade and Investment to invite shareholders to subscribe to the remaining 16.5 million secondary shares at EGP 1 par value each.
The subscription will run till August 28, 2014.
The company had announced that its rights issue was covered by 89.4% in phase one, with a total of 13.409 million shares, out of 15 million offered shares, subscribed, said an official source at CIB.
According to the source, the company’s capital increase by EGP 30 million to EGP 40 million will be partially financed from accounts payable by EGP 15 million, while the remaining EGP 15 million will be injected by original shareholders
The company had posted EGP 181.9 thousand net profit in FY13, with 15% growth year-over-year from EGP 158 thousand.
The subscription will run till August 28, 2014.
The company had announced that its rights issue was covered by 89.4% in phase one, with a total of 13.409 million shares, out of 15 million offered shares, subscribed, said an official source at CIB.
According to the source, the company’s capital increase by EGP 30 million to EGP 40 million will be partially financed from accounts payable by EGP 15 million, while the remaining EGP 15 million will be injected by original shareholders
The company had posted EGP 181.9 thousand net profit in FY13, with 15% growth year-over-year from EGP 158 thousand.
Source:
Mubasher
