Madinet Masr
MASR
-1.08%
3.67
-0.04
MASR
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.
Source:
Mubasher