Vertika Programming announced that its rights issue to raise issued capital was subscribed by 93.23% in the first phase.
The Egyptian Financial Supervisory Authority (EFSA) had initially approved a request from the company to invite shareholders to subscribe to shares of increasing issued capital from EGP1.17 million to EGP2.35 million, by increase of EGP1.17 million.
The capital increase will be financed fully in cash, through issuing 1.17 million shares at EGP1 par value plus EGP2.5 piasters issue costs each.
