Cairo – Mubasher: The board of Egyptians for Investment and Urban Development Company has recommended an increase in the issued and paid-up capital by EGP 50 million to EGP 100 million.

The rise in the capital is distributed over 50 million shares with a nominal value of EGP 1 per share, according to a bourse filing on Sunday.

It is noteworthy to mention that in 2020, the company achieved net profits of around EGP 32,860, compared to EGP 18,970 in 2019.