Eng. Mansour Al Barbary, Chairman of Barbary Investment Group (B.I.G.) said his company will launch the second phase of its rights issue during 2015.
The top official added, in a press statement Monday that the company adopts an expansion plan for the year 2015, as it intends to raise its working capital, in addition to using the subscription proceeds in bolstering its commercial activity through opening more retail branches and adding more vehicles to its fleet.
Al Barbary said earlier the company is proceeding steadily towards moving the stock listing from NILEX to the official market. The official listing of the company’s stock will provide shareholders with several privileges.
The chairman said that his company took several steps to become a major entity, including the increase of issued capital to approx. EGP 30 million.
El Barbary had said in mid-September that the company’s rights issue to raise issued capital from EGP 10 million to EGP 40 million has been successfully completed.
Photo Credit: Arabianeye-Reuters
