Cairo – Mubasher: Sharm Dreams Company for Touristic Investment said Monday it completed all procedures with General Authority for Investment and Free Zones (GAFI) and Egyptian Financial Supervisory Authority, which are required for an increase in paid-in capital to EGP 529.85 million.

The company also amended articles of incorporation No. 6 and 7, in addition to completing the commercial registration.

Sharm Dreams earlier launched a rights issue to raise issued capital to EGP 600 million from EGP 450 million. The EGP 150 million increase was divided into 15 million shares at EGP 10 par value each.