El Obour Real Estate Investment announced that its rights issue to raise issued capital was subscribed by 2.4% in the first phase.

The 2.4% is equivalent to 105.8 thousand shares at total value of EGP572.4 thousands.

The company had decided to raise issued capital by EGP22 million through issuing 4.4 million shares at EGP 5 par value plus EGP 12.5 piasters issue costs each.

El Obour has suffered EGP3.5 million loss for the first nine months of 2014.