Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Al Shams Housing and Urbanization to increase its capital.

The listed company's disclosure includes an EGP 45.37 million rise in the issued and paid-up capital to EGP 226.87 million from EGP 181.5 million, according to a bourse statement on Sunday.

The capital increase will be distributed over 45.37 million shares with a nominal value of EGP 1 per share.

The increase will be financed through the distribution of bonus shares from the profits of the year ended on 31 December 2020.