FRA ratifies offering Middle East Glass’ uncovered shares of Sub.

Updated 2/16/2020 12:42:10 PM

ArabFinance:  The Financial Regulatory Authority (FRA) approved publishing Middle East Glass Manufacturing (MEGM) invitation for its shareholders to subscribe to uncovered shares of the 1st round of capital increase's subscription.

The company will offer 4,154,943 shares in 2nd round of subscription that will last from Monday, Feb. 17 to Wednesday, Feb. 19, 2020.

FRA stated that the shareholders who kept the right issues and the rights' buyers during the 1st round of subscription, are eligible to subscribe to the remaining shares without adhering to their quota in the company's share capital.

Middle East Glass’ Extraordinary General Assembly approved on Nov. 07, issued and paid-up capital increase from EGP 50,322,580 to EGP 83,122,580 with an increase amounting to EGP 32,800,000.

Moreover, the FRA nodded on Dec. 16, to shareholders who recorded on Jan. 15 to subscribe to capital increase shares by 65.18% their quota in the company's share capital before the increase.

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