Tourism Urbanization Co. announced that subscription to its rights issue reached 62.3%, or 6.229 million shares by Egyptian General Company for Tourism & Hotels (EGOTH) and 0.15%, or EGP 15.1 thousand paid by shareholders, at a total subscription value of EGP 46.24 million, or 62.45%, out of EGP 10 million.
The Egyptian Financial Supervisory Authority (EFSA) had approved a disclosure from the company to increase capital by EGP 10 million to EGP 68.304 million from EGP 58.304 million.
Shareholders will be invited to subscribe to 1 million shares at EGP 10 par value plus EGP0.25 issue costs each.
Shareholders of record till the close of trading on July 10 are entitled to the rights issue.