Arab Finance: Arab Developers Holding's (ARAB) extraordinary general assembly (EGM) has approved a proposal by the board to increase the company’s issued and paid-up capital by EGP 1 billion, raising it to EGP 2.390 billion from EGP 1.390 billion, as per a disclosure.

The increase will be implemented through the issuance of 10 billion ordinary shares at a par value of EGP 0.10 per share, in addition to issuance expenses amounting to 1% of the par value per share.

The new shares will be offered for cash subscription through an invitation to existing shareholders, allowing them to subscribe in proportion to their current ownership.

Subscription rights will be traded separately from the original shares.

The EGM also approved the feasibility study prepared by the company’s management for the capital increase, clearing the way for the execution of a plan aimed at strengthening Arab Developers Holding’s financing capacity and supporting the expansion of its investment activities.

Arab Developers Holding is one of the region’s leading real estate development companies, playing a key role in reshaping the real estate landscape.

The company has a diverse portfolio of projects, including innovative lifestyle solutions and high-end services, offering unmatched real estate investment options in booming markets worldwide, from mansions, villas, malls, Golf courses, hotels, serviced apartments, and much more.