Heliopolis Housing’s EGM approves issued capital raise to EGP 1B

Updated 12/8/2024 12:56:00 PM
Heliopolis Housing’s EGM approves issued capital raise to EGP 1B

Arab Finance: Heliopolis Housing and Development’s (HELI) extraordinary general meeting (EGM) greenlighted an issued capital increase of EGP 667.54 million, as per a statement.

Hence, the company’s issued capital will rise to EGP 1 billion from EGP 333.77 million, with the increase distributed over 2.67 billion shares at a nominal value of EGP 0.25 per share.

Accordingly, Heliopolis Housing will distribute 2:1 bonus shares, financed from the company’s 2023 earnings.

The EGX-listed company recorded net profits after tax valued at EGP 1.745 billion in the first nine months of 2024, an annual growth of 21,512% from EGP 8.078 million.

Heliopolis Housing is a leading Egypt-based real estate development company that operates in land reclamation and subdivision, residential real estate development and management, property purchase and sale, as well as project planning and supervising.

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