Cairo – Mubasher: Vertika Programming announced that the second phase in its rights issue was over-subscribed by 1955.63%, with 5.114% allotment ratio, according to the company’s bourse filing posted Tuesday.
A total of 57,058 shares were offered for subscription, while the number of shares subscribed to during the period 3-7 May amounted to 1,115,844. A total of twenty four shareholders subscribed to the rights issue.
The company added that refunds will be carried out starting 13 May, via branches of the receiving bank.
Vertika previously logged EGP 567,700 in net loss for the fiscal year 2014, against EGP 270.2 million in net profits a year earlier.
