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.