The extraordinary general meeting of El Obour Real Estate Investment approved on Saturday increasing issued capital by 100%, or EGP 22 million, divided into 4.4 million shares at EGP 5 par value plus EGP 0.125 issue premium each.
The company currently operates with issued and paid-in capital of EGP 22 million, divided into 4.4 million shares at EGP 5 par value each.
The EGM invited original shareholders to subscribe to the rights issue a per priority rights.
The meeting also endorsed trading subscription rights separately from original shares.