Egypt’s Financial Regulator Keeps HEPCO Capital Subscription on Hold

Egypt’s Financial Regulatory Authority has continued to postpone the opening of subscriptions for existing shareholders in HEPCO for Commercial Investments and Real Estate Development’s planned capital increase.

The proposal would raise the company’s issued and paid-up capital from EGP 72 million. The available details did not specify the proposed new capital level.

The regulator’s position makes addressing outstanding observations a prerequisite for moving forward with the subscription process. The nature of those observations was not disclosed in the summary.

The subscription opening therefore remains on hold, with no revised date provided for existing shareholders to subscribe to the additional shares.