Cairo - Mubasher: The Financial Regulatory Authority (FRA) has no initial objection for South Valley Cement Company's rights issue invitation to existing shareholders to raise its issued capital.

The subscription consists of 482.25 million shares at a nominal value of EGP 5 per share with no issuance fees, according to a bourse filing.

It is worth noting that the subscription rights will be traded separately from the original shares.

The eligibility date will be 22 April 2026, while the rights issue subscription period will be from 27 April to 7 May.

The EGX-listed company will double its issued and paid-up capital to EGP 4.82 billion from EGP 2.41 billion.