United for Housing OKs capital cut

Updated 5/8/2023 9:36:00 AM
United for Housing OKs capital cut

Arab Finance: United Company for Housing and Development’s (UNIT) extraordinary general meeting (EGM) approved an EGP 8.619 million cut in issued and paid-in capital by writing off 6.895 million treasury shares, according to a statement sent to the Egyptian Exchange (EGX) on May 8th.

Thus, the company will cut its capital to EGP 326.958 million from EGP 335.578 million.

United Housing is an Egypt-based company that operates in the housing and real estate investment sector.

The company is primarily engaged in real estate investment activities in Alexandria and other governorates. It purchases, reclaims, and sells land and property, in addition to developing housing and construction projects and offering financial leasing services.

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