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Thursday, 7 December 2017

FRA approves Orange’s capital increase

The Financial Regulatory Authority (FRA) approved Orange Egypt’s capital increase to EGP 16.4 bn from EGP 1 bn, according to Al Borsa. The ex-rights date has been set for end of trading on 24 December. The company approved the capital increase in their EGM on 4 December. Orange has also appointed Grant Thornton to conduct a fair value study, which concludes on 21 December, at the request of the FRA following a rally in their stock.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594). Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2016 Enterprise Ventures LLC.