Marsa Alam for Tourism Development said its rights issue was 100% covered. The company has finalized its capital increase to a total of EGP 50 million with EGP 30 million rights issue, through issuing EGP 30 million shares. According to the company’s filing, the EGP 30 million increases will go for new expansions. Marsa Alam had posted EGP 3.956 million net profit for the first nine months of FY13, with 367.4% surge compared with EGP 846.5 thousand net profits in the same period a year earlier.