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FRA nods to capital increase for EHDR

FRA nods to capital increase for EHDR

ArabFinance: The Financial Regulatory Authority (FRA) has approved the publication of the disclosure form submitted by Egyptians for Housing and Development Company (EHDR) to initiate the capital increase process, according to a statement filed to the Egyptian Exchange (EGX).

The company’s board of directors previously decided to raised the issued capital to EGP 290.4 million from EGP 264 million by EGP 26.4 million distributed over 105.6 million shares at a nominal value of EGP 0.25 per share.

Egyptians for Housing operates in the real estate development and investment sector, with the focus on the businesses of buying, purchasing, dividing, and selling lands, and establishing buildings and facilities.

The company’s business also includes setting up urban expansion projects, residential and commercial complexes, and new township projects.

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