Arab Finance: The subscription to Act Financial's capital increase was 20.2 times covered through private placement, representing 6.056 billion shares at a value of EGP 17.561 billion, according to a statement on July 21st.

The total number of subscribers to the increase is 493. However, the subscription shares were allocated to 203 subscribers.

It is worth noting that Act Financial aims to raise EGP 870 million in a private placement of 300 million shares on the Egyptian Exchange (EGX) which took place from July 9th to 18^th.

It also seeks to offer 60 million shares on EGX in an initial public offering (IPO) which lasts until July 23^rd.

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