The Egyptian Financial Supervisory Authority (EFSA) announced initially approving a request from Rubex Plastic Manufacturing Co. to invite shareholders to subscribe to 196,890 remaining secondary shares at EGP 5 par value plus EGP 0.07 issue costs each.
The second phase of the company’s rights issue will start on Sunday, November 2 through Thursday, November 6.
Rubex announced earlier that phase one in the rights issue was covered by 92.97%. The market regulator had approved the company’s capital increase by EGP 14 million. Rubex
FY13 financial results had shown EGP 1.59 million net profit, with 50.3% jump y/y from EGP 1.06 million.