Arab Finance: Pyramisa Hotels and Resorts’s (PHTV) extraordinary general meeting (EGM) has approved increasing the company’s capital by EGP 117 million distributed over 5.85 million shares at a nominal value of EGP 20 per share, as per a filing.

Thus, the capital shall be raised to EGP 517 million from EGP 400 million.

Pyramisa Hotels is engaged in tourism and hotel development and investment. The company, along with its subsidiaries, is primarily involved in the ownership, establishment, sale, rent, and management of hotels, in addition to providing travel, entertainment, therapeutic, and sports facilities.

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