Cairo – Mubasher: The Egyptian Exchange (EGX) has approved the listing of the capital-increase shares of Heliopolis Company for Housing and Development.

The EGX also approved an EGP 222.51 million increase in the company’s capital through the issuance of 890.05 million shares, according to a statement released on Wednesday.

Heliopolis Housing’s shares are set to be listed on 27 February 2020, the statement added.

Moreover, the EGX approved the increase in the real estate developer’s authorised capital to EGP 1.5 billion from EGP 200 million.

It is worth pinpointing that in the six-month period ended 31 December 2019, the company reported a net profit of EGP 351.34 million, compared to EGP 48.6 million in the year-ago period.