(2015-09-07) Pioneers to open 2nd phase of rights issue for uncovered stocks
Pioneers Holding (PIOH) decided to open second phase of subscription to cover unsubscribed remaining stocks amounting to 170,164,356 shares, without being restricted by quotas. The company said, in a statement sent to EGX, the credit balances, which are approved by Egyptian Financial Supervisory Authority (EFSA), of existing shareholders, who have right issue in the second phase, amounts to LE1,176,359,354, and it is due to some shareholders in Rooya Holding to Investments Company. General assembly of Pioneers agreed to increase issued and paid capital from LE 2.5 billion to LE3,350,822,460, with increase of LE 850,822,460. The company will issue 170,164,492 shares at nominal value of LE5 per share in addition to issuance premium of LE12,63 per share. The first phase of rights issue was closed on September 3, 2015.