Egyptian cement producer Suez Cement will offer for subscription a total 1.3 million shares at a par value of 45 Egyptian pounds ($7.83), the company said. The shares are part of the company’s capital hike, carried out from December 1 to 30, 2005, which was not fully subscribed.
The shares will be allowed for subscription by small shareholders of the company from January 15 to 21, 2006. Out of the 9.54 million shares of the company’s rights issue, some 6.53 million shares were subscribed.
Currently, the capital of Suez Cement stands at 640 mln pounds ($111.4m), divided into 64 million shares with a par value of 10 pounds ($1.74). Suez Cement is majority owned by the Italian cement group Italcementi.