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ASCOM cleared by regulator to re-offer secondary shares

ASCOM cleared by regulator to re-offer secondary shares
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ASCOM
ASCM
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Cairo – Mubasher: The Egyptian Financial Supervisory Authority (EFSA) has approved a request from ASEC Co. for Mining (ASCOM)  to invite shareholders to subscribe to the remaining secondary shares.

The company announced earlier that its rights issue failed to attract investors, recording zero coverage.

The mining company earlier launched a rights issue to raise issued capital to EGP 500 million from EGP 350 million. The EGP 150 million increase is divided into 15 million shares at EGP 10 par value each.