Egypt Odin Investments capital raise subscription covered by 56.75%

PHOTO

Cairo – Odin Investments, formerly Egyptians Abroad for Investment and Development, announced that subscription to its issued capital increase was covered by 56.75%.

The first phase of subscription included 28.23 million shares and the remaining 21.52 million shares will be offered again for subscription, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.

It is noteworthy that the company’s extraordinary general meeting (EGM) approved increasing the issued and paid-in capital to EGP 248.8 million from EGP 124.4 million, by issuing 49.760 million shares at a nominal value of EGP 2.5 per share, in addition to issuance expenses of EGP 0.05 per share.

During the first half of 2019, the company logged a net profit of EGP 1.55 million, compared to EGP 3.05 million in H1-18.

Source: Mubasher

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.