Arab Finance: The Financial Regulatory Authority (FRA) agreed to publish the capital increase documents of Obour Land for Food Industries on the Egyptian Exchange (EGX), according to a bourse filing.
The company aims to increase the authorized capital from EGP 200 million to EGP 800 million.
This is in addition to raising the issued and paid-up capital from EGP 200 million to EGP 220 million. The EGP 20 million raise will be distributed over 4 million shares with a nominal value of EGP 5 per share.
Obour Land recorded a block trading deal amounting to EGP 419.735 million on July 21st.