Univert Food Industries Co. said on Wednesday, in a statement to the stock market, that the second phase of its rights issue was subscribed by 100%.
The second phase of subscription to Univert’s remaining secondary shares stared on December 11 till Monday, Dec. 15.
The company aims to increase issued capital from EGP 59.6 million to EGP 80 million. Univert earlier said shareholders of record until October 21 are entitled to subscribe to the remaining shares.
The first phase was 94.47% covered, the company said.
The capital increase will go for financing the company’s two pastry production lines.
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