Cairo - Mubasher: The Financial Regulatory Authority (FRA) has no initial objection for Arab Developers Holding's rights issue invitation to existing shareholders to increase its capital.

The subscription comprises 10 billion shares at a nominal value of EGP 0.10 per share in addition to an issuance fee of EGP 0.01 per 10 new shares, according to a bourse filing.

According to the final approval for the capital raise transactions, the number of shares pursuant to the rights issue will stand at 23.90 billion shares compared to 13.90 billion shares prior to the rights offering.

Meanwhile, the subscription rights will be traded separately from the original shares.

Arab Developers noted that the entitlement date is 31 March 2026, while the rights issue subscription period will be from 5 to 19 April.

The real estate developer will raise its issued and paid-up capital by EGP 1 billion to EGP 2.39 billion from EGP 1.39 billion.