ICEC

EFSA approves UNFO’S IPO Invitation

The Egyptian Financial Supervisory Authority (EFSA) has approved the invitation issued by the Univert Food Industries (UNFO) to allow the former shareholders to subscribe for some shares. Those remained shares amount to 967583 and valued at one pound per share besides 0.025 piasters for the issuance of each share.

The UNFO demanded that all necessary procedures shall be taken in accordance with the law’s provisions and that the second phase of increasing the capital shall be published in two widespread daily newspapers; one of them is to be published in Arabic. In addition to these requirements, the shareholders must submit a certificate, which refers to the stance on the IPO’s role in the issued capital increase, to the EFSA.

The UNFO has announced the beginning of subscription potentiality so as to raise the issued capital to be L.E39.6 million for 20 million shares costing a one-pound par value.

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