Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved a request from Rubex International for Plastic and Acrylic Manufacturing to publish its invitation to shareholders to subscribe to the company’s capital raise.  

The company’s issued capital will be increased by EGP 50 million, divided on 10 million shares at a nominal value of EGP 5 apiece, as well as issuance expenses of EGP 0.05 per share, according to a statement to the Egyptian Exchange (EGX) on Thursday.

This will raise the company’s capital to EGP 150 million from EGP 100 million.

Shareholders entitled to subscribe to the capital raise are those owning shares until the end of trading session on 19 July.

It is worth mentioning that during the first quarter of 2020, Rubex incurred net losses of EGP 7.798 million, versus net profits of EGP 8.57 million in the corresponding period a year earlier.