Egyptians for Investment’s EGM thumbs up to capital increase

Updated 7/16/2023 9:54:00 AM
Egyptians for Investment’s EGM thumbs up to capital increase

Arab Finance: Egyptians for Investment and Urban Development’s (EIUD) extraordinary general meeting (EGM) has approved raising the company’s issued and paid-up capital via rights issue, the firm disclosed on July 16th.

Hence, the capital shall increase to EGP 150 million from EGP 50 million at a nominal value of EGP 0.10 per share.

Earlier this year, the company’s board approved splitting the nominal value of the its stock to EGP 0.10 per share from EGP 1.

Established in 1998, Egyptians for Investment and Urban Development is a Cairo-based company operating in the fields of real estate investment, construction of buildings and resorts, land subdivision, and buying and selling of properties.

 

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