FRA approves capital hike for Al Shams Housing
Updated 1/16/2022 1:27:00 PM
ArabFinance: The Financial Regulatory Authority (FRA) has approved the publication of disclosure on the decisions of Al Shams Housing and Urbanization’s (ELSH) board of directors regarding raising the company’s issued and paid-up capital, according to a statement filed to the Egyptian Exchange (EGX).
On December 22nd 2021, Al Shams Housing’s board of directors approved to raise the company’s issued and paid-up capital to EGP 226.875 million from EGP 181.5 million.
The capital increase amounts to EGP 45.375 million distributed over 45.375 million shares at a nominal value of EGP 1 per share.
Al Shams Housing 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.
