Cairo – Mubasher: The board of directors of Cairo Development and Investment approved raising the company’s issued capital from EGP 50 million to EGP 100 million.
The capital hike will be effected through a right issue, where the company will offer 25 million shares for subscription and shareholders are entitled to subscribe to one share per each owned one share at par value EGP 2 each.
Last December, the company said it expects total returns of EGP 257.9 million from a project it owns in New Cairo - 5th district
