(2018-02-26) Porto Group submits disclosure report to raise capital- FRA says Financial Regulatory Authority (FRA) announced in a statement sent to EGX, Porto Group (PORT) has submitted its disclosure report regarding the Board of Directors decision on February 20 to raise issued capital to 601,859,893,20 from LE501,549,911, with increase amounting to LE100,309,982,20.
The capital hike will be financed from profits and delayed profits.
The capital increase will be financed in cash through existing shareholders’ right issue.
FRA added the documents will be reviewed.
