EGX to increase GB AUTO’s capital Monday

EGX said listing committee approved to increase Ghabbour Auto’s  (AUTO) capital, and shares will be available for trading effective on Monday June 22, 2015 trading session.

Recently, the listing committee held on June 17, 2015 approved listing GB Auto shares of issued and paid capital increase from LE 135,337,545 to LE 1,094,009,733 with increase amounting to LE 958,672,188 million.

The capital hike will be distributed over 958,672,188 shares (fifth issue) at a nominal value of LE 1 per share.

The capital hike will be paid in cash deposit in banks, as well as due debts to some of the shareholders, according to financial position in December 31, 2014.

Source: EGX