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Egypt's Ajwa to raise $182m in rights issue

Cairo, March 7, 2010

Egypt's Ajwa Food Industries will begin a EGP999 million ($182.1 million) rights  issue on March 29 to finance investments and expansion, the company said on Sunday.

The rights issue, which ends on April 28, will increase its capital six-fold to EGP1.2 billion, it said in advertisements placed in local newspapers.

The Cairo-based company refines edible oils and has an annual capacity of 180,000 tonnes.

Investors holding shares on March 23 are eligible, and any shares not taken up will be sold to existing shareholders in a secondary offering.-Reuters




Tags: Egypt | Shares | rights issue | Ajwa Food Industries |

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