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Amer Group denies issuing EGP 500m bonds

Amer Group denies issuing EGP 500m bonds
Amer Group's net profits reached EGP 39.3 million in nine months
Amer Group
AMER
-2.06% 1.00 -0.02

Cairo – Mubasher: Amer Group Holding Co denied news reports regarding the issuance of bonds worth EGP 500 million to provide liquidity.

News stating that the real estate developer considers issuing bonds worth EGP 500 million to provide liquidity to finance real estate projects are completely baseless, the property developer said in a bourse disclosure on Sunday.

It is noteworthy that during the first nine months of 2019, the company’s net profits fell to EGP 39.3 million from EGP 70.8 million in the year-ago period, including minority shareholders’ rights.