Arab Finance: Cairo Housing and Development Company’s (ELKA) extraordinary general meeting (EGM) has approved trimming its issued and paid-in capital by EGP 1.985 million via writing off 3.916 million treasury shares at a par value of EGP 0.5 per share, according to a disclosure on October 15th.
Thus, the company will cut its capital to EGP 448.181 million from EGP 450.140 million.
Cairo Housing is an Egypt-based firm engaged in real estate and housing development operations.
The listed company’s main activities include acquiring, selling, and leasing lands and buildings as well as city planning and infrastructure construction activities.