Cairo – Mubasher: The Egyptian Exchange (EGX) announced that Egyptians for Housing and Development (EHDR) has submitted a request to increase its issued and paid-up capital.
EHDR plans to raise its issued and paid-up capital by EGP 20.68 million, distributed over 10.3 million shares at a nominal value of EGP 2 per share, to EGP 227 million from EGP 206.31 million, the EGX said in a statement on Monday.
The EGX is currently reviewing the documents to be submitted to the listing committee for approval, the statement added.
Previously, the company’s ordinary general meeting (OGM) approved raising its capital through distributing 0.10 bonus share for every share held, totalling 10.34 million bonus shares at a nominal value of EGP 2 apiece.
During the first quarter of 2019, EHDR’s net profits grew to EGP 12.06 million from EGP 6.72 million in the year-ago period.
Revenues rose to EGP 16.53 million in Q1-19, compared to EGP 16.41 million in Q1-18.
As for standalone business, the company logged a net profit of EGP 5.45 million in the three-month period ended 31 March, compared to EGP 1.12 million in the same period a year earlier.
