The Egyptian Financial Supervisory Authority (EFSA) has initially approved a request from Marseille Almasreia Alkhalegeya For Holding Investment to invite shareholders to subscribe to a rights issue worth EGP 20 million, divided into 20 million shares at EGP 1 par value each.
The company is seeking to raise issued capital to EGP 60 million from EGP 40 million. Shareholders of record till the close of trading on July 21 will be entitled to subscribe to the rights issue.
The company had logged EGP 6 million net loss in Q1-14, against EGP 3.4 million net profit in the same period a year earlier.