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Marsa Alam to open subscription to phase 2 in rights issue Tuesday

Marsa Alam to open subscription to phase 2 in rights issue Tuesday
Marsa Marsa Alam
MMAT
-4.33% 2.54 -0.11
The Egyptian Financial Supervisory Authority (EFSA) announced that subscription to 47021 remaining secondary shares, or 0.16% of Marsa Alam for Tourism Development will run for three days starting from Tuesday, April 15 till April 17. The subscription will be carried out without pro rata.
The company had said earlier that part of the subscription proceeds will go for repaying EGP 7 million to National Bank of Egypt (NBE).