Orange Egypt's subscription covers 99.49%

31 Jan 2018

Orange Egypt For Telecommunications (OREG) announced on January 30, 2018, the coverage of the subscription's first phase that had been started from December 27, 2017, and ending January 22, 2018, as it has been subscribed into 99.49% from the offered shares.

The covered shares are 1,532,072,354 shares, encompassing credit balances owners of 1,523,126,080.

It is worth to mention, it will not offer the subscription's uncovered shares.

Orange Egypt had intended to increase issued and paid capital to LE16.4 billion from LE1 billion with increase amounting to LE15.4 billion as well as authorized capital increase to LE20 billion from LE3 billion.

Capital hike will be distributed over 1.54 billion shares, at par value of LE10 per stock with issuance fees of LE0.01 per share (15.4 free stocks for every existing 1 held).


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