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Qalaa Holdings planning a $222mln rights issue

Egyptian Investment Company Qalaa Holdings is planning to hold a rights offering to raise $222.4 million.  The additional funds will be used to further expand its stakes in the subsidiaries it plans to retain as it continues its reorganization and divestiture program to better focus on its core holdings.  The company says it will return to profitability later this year, ending years of losses.

Read more at Business Daily…

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