Cairo – Mubasher: Cairo Development and Investment said its extraordinary general meeting approved increasing its issued and paid-in capital to EGP 100 million.

Earlier, the company’s board gave a nod to increase the company’s capital through a right issue, where the company will offer 25 million shares for subscription and shareholders are entitled to subscribe to one share per each owned one share at par value EGP 2 each.

The firm is currently capitalized at EGP 50 million distributed across 25 million shares at EGP 2 par value each