Cairo – Mubasher: MB for Engineering and Contracting has signed a credit facility agreement worth EGP 8 million with the National Bank of Egypt, according to a bourse filing.

The bank will grant the company EGP 5 million as a direct credit facility and EGP 5 million as an indirect credit facility with a 5% interest rate.

Earlier, the company’s shareholders gave the green light to floating 27.6% of capital, or 5.52 million shares worth EGP32.8 million, at fair value of EGP5.95 each.