EHDR’s post-merger capital to hit EGP 300M
Updated 9/11/2022 1:58:32 PM
Arab Finance: Egyptians for Housing and Development Company (EHDR) revealed that its capital after the merger would be EGP 300 million distributed over 3 billion shares at a nominal value of EGP 0.10 per share, according to a statement on September 11th.
This decision is subject to the approval of the upcoming ordinary general meeting (OGM).
On September 5th, EHDR (the merging company) decided to combine business with five companies.
The merged companies are Emerald Real Estate Investment (EMRI), Edge Development and Project Management, Emerald Development and Projects Management (EMDE), Odin for Investment and Development (ODID), and Odin for Investment and Real Estate.
The business combination process will be based on the book value of net equity of the companies to be merged.
EHDR now has a capital of EGP 264 million distributed over 1.056 billion at a nominal value of EGP 0.25 per share.
