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Cairo Investment’s board approves unit’s 60% capital raise

Cairo Investment’s board approves unit’s 60% capital raise
Cairo Investment reported net profits of EGP 330.4 million in nine months

Cairo – Mubasher: The board of directors of Cairo for Investment and Real Estate Development agreed to increase the capital of its subsidiary Star Light Educational DMCC by 60%.

The board also decided to change the company's fiscal year to end at 31 August instead of 31 December in accordance with the regulations of the Dubai Multi Commodities Centre (DMCC) and the company’s articles of association, according to a statement to the Egyptian Exchange (EGX) on Thursday.

In a separate statement, Cairo Investment reported net profits of EGP 330.4 million during the nine-month period ended on 31 May, up from EGP 231.56 million in the year-ago period.