ArabFinance: The rights issue of International Company for Medical Industries (ICMI) has been oversubscribed by 69.21%, according to a statement filed to the Egyptian Exchange (EGX).

Nearly 33.482 million shares were oversubscribed out of total 48.379 million shares, at a total value of EGP 33.482 million.

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.