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FRA approves Egyptians for Housing and Development's capital raise

FRA approves Egyptians for Housing and Development's capital raise
The board decided to increase its issued capital to EGP 264 million
Egyptians for Housing
EHDR
1.48% 0.48 0.01

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the publication of the disclosure form submitted by Egyptians for Housing and Development Co.

The disclosure form includes the board’s decision to increase its issued capital to EGP 264 million from EGP 240 million through a 0.1-for-one bonus issue, totalling 96 million bonus shares at a nominal value of EGP 0.25 apiece, according to a bourse disclosure on Tuesday.

During the first nine months of 2020, the company achieved net profits of EGP 11.32 million, down from EGP 28.74 million in the corresponding period a year earlier, including minority shareholders’ rights.