Cairo - Mubasher: The Egyptian Financial Regulatory Authority approved the publication of a disclosure form submitted by Marseilia Almasreia Alkhalegeya Real Estate Investment to proceed with the capital raise procedures.

The disclosure form includes the board's decision to increase the authorised capital to EGP 360 million from EGP 150 million, the FRA said in a statement to the Egyptian Exchange (EGX) on Thursday.

During the first quarter (Q1) of 2021, Marseilia Almasreia Alkhalegeya Real Estate Investment achieved net profits of EGP 1.01 million, up from EGP 251,181 in the year-ago period.