Edition:
United Kingdom

Palm Hills Developments Raises EGP 991 Mln In Second Subscription Round


Monday, 3 Dec 2018 

Dec 3 (Reuters) - PALM HILLS DEVELOPMENTS COMPANY ::RAISES EGP 991 MILLION IN SECOND SUBSCRIPTION ROUND, IMPLYING 3.3 TIMES OVERSUBSCRIPTION.COMPLETES SECOND SUBSCRIPTION ROUND FOR UNSUBSCRIBED PORTION OF EGP 1.54 BILLION RIGHTS ISSUE OF 769 MILLION NEW ORDINARY SHARES.UNSUBSCRIBED PORTION STOOD AT 148.4 MILLION SHARES, WITH TOTAL VALUE OF EGP 301 MILLION, REPRESENTING 19.29 PERCENT FROM TOTAL OFFERING.