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FRA oks Foodico's subscription, right issue’s due date on Dec. 30
12 Dec 2019 11:06 AM

ArabFinance:  Financial Regulatory Authority (FRA) approved to publish Foodico's (INFI) invitation for existing shareholders to subscribe to the capital increase shares.

The issued capital will be hiked from EGP 45 million from EGP 57.5 million with an increase amounting to EGP 12.5 million. The capital increase will be distributed on 2.5 million shares at par value of EGP 5 per share with outlay costs of EGP 0.125 to be paid in cash.

The shareholders on record of December 30, 2019, will be entitled to subscribe to 27.8% of their stake in the company's share capital. The subscription will be opened for one month, starting January 05, 2019, until the ending of the trading session on February 04, 2019.

The right issue will be traded separately from the original stock from January 05, until the ending of the trading session on January 30, 2019.