Arab Finance: The Financial Regulatory Authority (FRA) has approved publishing the disclosure form submitted by Elsaeed Contracting and Real Estate Investment Company’s board to decrease issued and paid-up capital via writing off treasury shares, as per a statement.

Thus, the capital will be cut by EGP 4.834 million distributed over 4.834 million shares at a par value of EGP 1 per share.

Accordingly, the capital shall be trimmed to EGP 725.232 million from EGP 730.066 million.

Established in 1964 and fully privatized in 1997, the company is primarily engaged in providing general and specialized contracting and construction services.

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