The first phase of the subscription to the Arab Dairy Products Co.’s (Panda) capital increase has been covered at a ratio of 98.56%, representing 206.982 million shares, according to a statement to the Egyptian Exchange (EGX) on July 13th.
The uncovered shares account for 3.017 million shares.
Offering the uncovered shares for subscription is pending the Financial Regulatory Authority’s (FRA) approval.
Panda is an Egypt-based company engaged in the dairy industry. The company exports its products to Middle Eastern countries, such as Lebanon, Jordan, Libya, the United Arab Emirates, Saudi Arabia, Palestine, Bahrain, Oman, and Kuwait.