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Egypt's Sodic considering rights issue
June 16, 2014 / 10:12 AM / 3 years ago

Egypt's Sodic considering rights issue

CAIRO, June 16 (Reuters) - Egyptian property developer SODIC is considering a 1 billion Egyptian pound ($139.86 million) rights issue, the firm said in a statement on Monday.

“The board of directors have agreed to submit a suggestion to the extraordinary general assembly to look into increasing the capital of the firm,” the statement said, adding that it would look to raise around 1 billion pounds divided over 250 million shares worth four pounds each. (Reporting by Asma Alsharif; editing by Jason Neely)

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