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Palm Hills submits documents to EGX for EGP 81.3M capital cut

Palm Hills submits documents to EGX for EGP 81.3M capital cut

ArabFinance: The Egyptian Exchange (EGX) has announced that Palm Hills Developments (PHD) submitted documents for an EGP 81.309 million capital decrease, according to a disclosure on Monday.

Accordingly, the company’s capital will be decreased to EGP 6.081 billion from EGP 6.162 billion through writing off 40.654 million treasury shares.

Palm Hills is an Egypt-based company that focuses on real estate investment in the new cities and urban communities, land reclamation and cultivation, and other activities associated with the company’s operations.

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