Arab Finance:  The Financial Regulatory Authority (FRA) has approved in principle publishing Egyptians for Investment and Urban Development’s (EIUD) invitation for its shareholders to subscribe to the uncovered 29.783 million shares of capital increase subscription at a par value of EGP 0.10, as per a filing.

On January 9^th, the FRA approved in principle for Egyptians for Investment and Urban Development (EIUD) to invite senior shareholders to subscribe to the company’s rights issue.

Through the rights issue, the company aims to increase its issued capital by EGP 100 million via the issuance of 1 billion shares at a nominal value of EGP 0.10 per share.

Accordingly, the capital will be raised to EGP 150 million from EGP 50 million.

Established in 1998, Egyptians for Investment and Urban Development is a Cairo-based company operating in the fields of real estate investment, construction of buildings and resorts, land subdivision, and buying and selling of properties.

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