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Cairo – Mubasher: Egyptian Chemical Industries (Kima) announced that subscription to its issued capital raise was covered by 73.39%.
The company is raising its capital by EGP 2 billion to EGP 6.46 billion from EGP 4.46 billion through the issuance of 400 million shares, according to a bourse disclosure on Wednesday.
The subscription, conducted over two phases, covered 293.59 million shares with a rate of 73.39%.
In fiscal year (FY) 2020/2021, Kima reported net losses of EGP 1.33 billion, slightly down from EGP 1.35 billion a year earlier.
Source: Mubasher
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