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.