Raya Holding for Technology & Telecommunications announced that its rights issue was covered by 100% in the second phase.
The Egyptian Financial Supervisory Authority (EFSA) had approved a request from the company to invite shareholders to subscribe to 581240 remaining secondary shares at EGP 5 par value each. Phase one was covered by 94.19%.
The EGX securities listing committee had approved listing 10 million subscription rights resulting from the company’s capital increase from EGP 370,520,695 to EGP 420,520,695.
The EGP 50 million increase is divided into 10 million share at EGP 5 par value each. Raya is capitalized at EGP 370.5 million, divided into 74.1 million shares at EGP 5 par value each.