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Univert files with EGX for capital hike

Univert files with EGX for capital hike
Univert
UNFO
770.97% 0.31 2.39
The Egyptian Exchange (EGX) announced receiving documents from Univert Food Industries Co., as regards increasing issued capital from EGP 59.6 million to EGP 80 million.
The company said earlier that the second phase of its rights issue was subscribed by 100%. 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.
Photo Credit: Arabianeye-Reuters