Cleopatra Hospitals capital increase 99.81% subscribed

Cleopatra Hospital Group’s EGP 700 mn capital increase was 99.81% subscribed, according to an EGX disclosure (pdf). The company had applied for EGX approval to issue 1.4 bn new shares to existing shareholders back in October at a price of EGP 0.5 per share as it looked to raise its issued capital to EGP 800 mn from EGP 100 mn. Proceeds will be used to fund the acquisition of an EGP 600 mn hospital and to repay a EGP 100 mn loan.