Arab Finance: The Listing Committee held on 23/11/2016 has approved Gharbia Islamic Housing Development - (GIHD) to publish disclosure report to conduct procedures of calling extra-ordinary general assembly to be convened.

The general assembly will review amending the company's purpose by adding some activities, as well as authorized capital hike from LE50 million to LE500 million, and issued capital hike from LE22.500 million to LE50 million with increase amounting to LE27.5 million.

The capital hike will be funded in cash, through the issuance of LE6,875,000 shares, at a nominal value of LE4 in addition to issuance fees of LE0.10.

The existing shareholders will be called to subscribe in the capital increase.

EGX added the company is committed to convene EGM within a month from disclosure report announcement.