The Egyptian Financial Supervisory Authority (EFSA) approved a request from Social Impact Capital LTD to buy 5960571 shares, or 50.04% of Cairo Investment and Real Estate Development.
Cairo Investment had posted EGP 12.93 million standalone net profit for FY13, compared with EGP 11.67 million net profit in FY12.
The company will hold an ordinary general meeting on Monday, April 28, to look into the proposed dividend payout at EGP0.50 per share.