ArabFinance: The Egyptian Exchange’s (EGX) concerned committee approved listing 10 million shares of Egyptians for Investment and Urban Development resulted from the capital increase, according to EGX’s disclosure.

The company rose its issued and paid-in capital to EGP 50 million from EGP 40 million with an increase of EGP 10 million. The capital will be increased by distributing 0.25 free shares for everyone held at a par value of EGP 1 per each.

The shareholders recorded on April 14th are entitled to the capital increase shares.

The listed company shares after the increase will reach 50 million shares.  

Egyptians for Investment posted a net profit of EGP 32,863 in 2020, compared to EGP 18,976 achieved in 2019.

Egyptians for Housing is engaged in the real estate development and investment sector. The company focuses on buying, purchasing, dividing, and selling lands, and establishing buildings and facilities. This is in addition to setting up urban expansion projects, residential and commercial complexes, and new township projects.