Mubasher TV
Contact Us Advertising   العربية

MNHD approves due diligence request for subsidiary

MNHD approves due diligence request for subsidiary
MNHD’s net profits dropped to EGP 1 billion in 2019
Madinet Masr
MASR
-1.08% 3.67 -0.04

Cairo – Mubasher: The board of directors of Madinet Nasr Housing and Development (MNHD) approved a request from an investor to conduct due diligence process on its subsidiary El Nasr for Utilities and Installation Company.

This came after an investor submitted a request to acquire all the shares of the water and wastewater infrastructure contractor, according to a bourse disclosure on Wednesday.

It is worth mentioning that during 2019, MNHD’s net profits dropped to EGP 1 billion from EGP 1.11 billion a year earlier.