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EGX approves listing Heliopolis Housing’s capital raise shares

EGX approves listing Heliopolis Housing’s capital raise shares
Two bonus shares will be issued for every share held
Heliopolis Housing
HELI
-1.63% 9.64 -0.16

Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved a request to list the shares of the capital increase of Heliopolis Company for Housing and Development (HHD).

The company’s capital will be increased to EGP 333.77 million from EGP 111.257 million through the issuance of 890.05 million shares at a nominal value of EGP 0.25 per share to be financed from the retained earnings as per the financial statements for the period ended 30 June 2019, according to a bourse statement on Wednesday.

Two bonus shares will be issued for every share held, the statement showed.

The eligibility of bonus shares will be for shareholders owning shares until the end of trading session on 26 February. Shares will be listed on 27 February.

The EGX also approved a request to increase the company’s authorised capital to EGP 1.5 billion from EGP 200 million.

It is worth mentioning that during the first half of fiscal year 2019/2020, the company posted a net profit of EGP 351.34 million, up from EGP 48.6 million in the year-ago period.