Cairo – Mubasher: The rights issue of Integrated Engineering Group was covered by 77.99% in the first phase, the Egyptian Exchange said.
Out of 45 million shares, the number of uncovered shares is 9.9 million shares worth EGP1.98 million at a par value of EGP0.20 each, EGX added.
The second phase will be directly commenced after the company gets all regulatory approvals.
Earlier, the company’s shareholders gave go-ahead to increasing the company's issued capital to EGP12 million from EGP3 million, which represents 300% of capital.
The company's existing shareholders would be entitled to subscribe in the right issue at 3-to-1 stocks without issuance allowance.
The company registered a net profit of EGP220,000 for 2015, compared to 563,000 for 2014.
