Arab Finance:  The Financial Regulatory Authority (FRA) has approved in principle for Egyptians for Housing and Development Company’s (EHDR) to invite senior shareholders to subscribe to the uncovered 31.532 million shares of its rights issue at a par value of EGP 0.27 per share, as per a filing.

On March 24^th, the company’s first phase of capital increase subscription was covered by 91.241% at a value of EGP 89.508 million.

Through the rights issue, the company’s issued capital is set to increase from EGP 300 million to EGP 336 million by EGP 36 million at a par value of EGP 0.10 per share.

Egyptians for Housing operates in the real estate development and investment sector, with the focus on the businesses of buying, purchasing, dividing, and selling lands, and establishing buildings and facilities.

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