Egypt's stock exchange on Thursday suspended trading in shares of GB Auto, the country's biggest listed vehicle assembler and distributor, until it provides more information to the market about its planned rights issue.
GB Autos told Reuters on Tuesday it was working on a share issue to boost its capital by 1 billion Egyptian pounds ($139.86 million). Chief Executive Raouf Ghabbour said he expected the capital increase to take place in April 2015.
Ghabbour also said GB Auto was planning to invest $1.5 billion to build two new factories, in its biggest ever investment programme and a vote of confidence for the country's political stability.
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