Egypt’s South Valley Cement plans rights issue

Egypt’s South Valley Cement plans rights issue
Published: 22 October 2008

Egypt’s South Valley Cement said on Tuesday it planned to increase its capital by roughly E£518m ($93m) through a rights issue.

The company said in a statement issued through the stock exchange that it would offer 103.5 million shares to shareholders at E£5 per share. The increase would raise the firm’s total shares to 517.6 million.