El Obour for Real Estate’s EGM nods to capital increase

Updated 9/15/2021 9:29:52 AM

ArabFinance: El Obour Company for Real Estate Investment's (OBRI) extraordinary general meeting (EGM) has approved to raise the company’s authorized capital to EGP 200 million from EGP 80 million, according to a statement filed to the Egyptian Exchange (EGX).

Moreover, the EGM agreed on increasing the issued and paid-up capital by EGP 58.76 million to EGP 88.14 million from EGP 29.38 million, the statement added.

The EGM also approved to amend Articles 6 and 7 of the company’s Articles of Association.

Established in 1994, El Ebour operates within the real estate sector, focusing on diversified real estate activities.