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MNHD's board approves due diligence on Nasr for Civil Works

MNHD's board approves due diligence on Nasr for Civil Works
The process will be made after Odin Investments signs an NDA
Madinet Nasr Housing
MNHD
-1.31% 3.03 -0.04
Odin Investments
ODIN
-1.72% 4.07 -0.07
Nasr Co for Civil Works
NCCW
-3.07% 21.72 -0.68

Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) made a recommendation to the board of directors of Nasr Company for Civil Works for allowing Odin Investments to conduct a due diligence process.

The process will be made after Odin Investments signs a non-disclosure agreement (NDA), according to a bourse disclosure on Tuesday.

It is worth mentioning that MNHD’s unaudited financial results for the first half of 2020 showed net profits of EGP 484.65 million, down from EGP 515.68 million in the year-ago period.