Kima's capital raise subscription coverage reaches 73%

The subscription, conducted over two phases, covered 293.59mln shares

  
Traders work at the Egyptian stock exchange in Cairo, March 12, 2015.

Traders work at the Egyptian stock exchange in Cairo, March 12, 2015.

REUTERS/Mohamed Abd El Ghany
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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