Cairo – Mubasher: Arabia Investments Holding announced that the first and second phases of its rights issue to increase its issued capital were covered by 90.37% involving 868.4 million shares.

The number of unsubscribed shares in the first phase reached 235.02 million, while the number of subscribed shares in the second phase amounted to 142.3 million, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

Previously, the company announced that the first phase of subscription to its issued capital increase was covered by 75.55%.

Accordingly, the company’s issued capital will be increased to EGP 404.7 million from EGP 144.16 million.

During the first half of 2019, Arabia Investments Holding’s net profit declined to EGP 31.6 million from EGP 46.9 million in H1-18, including minority shareholders’ rights.