Cairo – Mubasher: Cairo Investment and Real Estate Development on Thursday announced that its board has approved increasing the company’s capital by 35 million shares at EGP 6 per share, bringing the total value of the increase to EGP 210 million.

It is worth mentioning that the EGP 6 per share is divided into EGP 0.40 which is the nominal value of the share and EGP 5.60 which is the issuance premium, and which will be added to the company's reserves.

Following the increase, Cairo Investment and Real Estate Development's issued capital will reach EGP 233.11 million, while the number of its stock will reach 582.79 million from 547.79 million previously, the company said in a filing to the Egyptian Exchange (EGX).

The issued amounted will be completely allocated to the Social Impact Capital Company.