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EGX approves Madinet Nasr Housing capital top-up

EGX approves Madinet Nasr Housing capital top-up
Photo Credit: Arabianeye-Reuters
Madinet Masr
MASR
-1.08% 3.67 -0.04

The securities listing committee of the Egyptian Exchange (EGX) has approved today a request received from Madinet Nasr Housing and Development Co. to raise issued capital from EGP199.3 million to EGP250 million , with increase of EGP50.7 million.

 

The EGP50.7 million increases, to be financed fully from FY14 dividends, will be effected through bonus share distribution at 0.25-for-1 at par value of EGP1 each.

 

The real estate developer said it has achieved EGP215.2 million net profit for 2014, with increase by 15% from EGP186.9 million for 2013.