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Arab Dairy Products to invite for 2nd phase of rights issue: FRA

Arab Dairy Products to invite for 2nd phase of rights issue: FRA

ArabFinance: The Financial Regulatory Authority (FRA) has approved that Arab Dairy Products Co. Arab Dairy’s (Panda) (ADPC) invite major shareholders to subscribe to the remaining 86,939 shares of the rights issue at a nominal value of EGP 1 per share, according to a statement.

The first phase of the rights issue was oversubscribed by 99.93%, covering around 129.91 million shares.

In November 2021, Panda announced that its ordinary general meeting (OGM) approved raising the company’s issued and paid-up capital to EGP 290 million from EGP 160 million.

The capital increase amounts to EGP 130 million distributed over 130 million shares at a nominal value of EGP 1 per share.

Arab Dairy is an Egypt-based company engaged in the dairy industry. The company exports its products to Middle Eastern countries, such as Lebanon, Jordan, Libya, the United Arab Emirates, Saudi Arabia, Palestine, Bahrain, Oman, and Kuwait.

 

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