Cairo-Mubasher: Egypt’s leading car manufacturer GB Auto has filed with the Egyptian Exchange (EGX) for increasing authorised capital to EGP 5 billion from EGP 400 million, the stock market said Tuesday.
The company also sent a request for amending its objectives by deleting “imports and commercial agencies” items, the stock market added.
GB Auto earlier received the approval from market regulator EFSA on inviting shareholders to subscribe to a rights issue worth EGP 960 million (960 million shares) at EGP 1 par value each. Subscription rights were allowed to be traded separately from original shares.
