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Emaar Misr files with EGX for capital hike

Emaar Misr files with EGX for capital hike
Photo Credit: Arabianeye-Reuters
Emaar Misr
EMFD
-2.72% 5.36 -0.15

Cairo-Mubasher: Emaar Misr for Development has lodged a filing with the Egyptian Exchange (EGX) requesting an approval on raising authorised capital to EGP 4.5 billion from EGP 1 billion, the bourse said on Monday.

The company submitted documents for increasing shares of issued capital by EGP 3.14 billion (314.1 million shares) to EGP 4.02 billion from EGP 878.34 million.

The EGX’s management said it is considering the request..

Egypt’s bourse previously approved the listing of Emaar with EGP 878.34 million in issued and paid-in capital, divided into 87.834 million shares at EGP 10 par value each.