ArabFinance: The capital increase of International Company for Medical Industries (ICMI) has been oversubscribed by 66%, according to a statement filed to the Egyptian Exchange (EGX).

Under the first phase of the capital increase, 31.935 million shares were oversubscribed out of total 48.379 million shares, at a value of EGP 31.935 million.

Subscription into the capital increase will be opened again for shareholders.

The company’s issued capital will be increased to EGP 72.569 million from EGP 24.189 million by EGP 48.379 million through the issuance of 48.379 million shares at a par value of EGP 1 per share, with issuance fees of EGP 2.5 per share.

Established in 2004, ICMI operates within the health care equipment and services sector focusing on health care equipment.