EGX approves listing capital hike of Al Shams Housing
Updated 3/23/2021 4:01:04 PM
ArabFinance: The Egyptian Exchange's (EGX) concerned committee approved Al Shams Housing and Urbanization’s (ELSH) request to raise its capital, according to a disclosure on March 23rd.
The company will increase its authorized capital to EGP 500 million from EGP 200 million.
In January, the company’s extraordinary general assembly approved an authorized capital increase.
The company’s unaudited financials showed that the company’s net profit grew 10% on a yearly basis to ego 149.67 million in 2020.
Al Shams is primarily focused on the purchase and lease operations of lands for the purpose of developing, managing, selling, and leasing out property and buildings, as well as offering contracting, construction, maintenance, and management services to residential, touristic, and administrative structures.
