ArabFinance: The Financial Regulatory Authority (FRA) has approved the disclosure of Marseilia Almasreia Alkhalegeya for Holding Investment (MAAL) in relation to the initiation of procedures for increasing authorized capital, according to a filing to the Egyptian Exchange (EGX).

The company’s authorized capital will be increased by EGP 140 million to EGP 500 million from EGP 360 million.

It is worth noting that Marseilia’s consolidated net profit after tax amounted to EGP 26.23 million in the full-year ended December 31st 2021, compared to a profit of EGP 19.27 million in 2020.

Marseilia is an Egypt-based company engaged in real estate property investment, development, and management.