Cairo – Mubasher: Heliopolis Company for Housing and Development is preparing to undergo major changes, by issuing an additional stake on the Egyptian Exchange (EGX), and engaging a new real estate developer in managing its portfolio.
The company decided to increase its capital from EGP 111.2 million to 333.7 million, through the issuance of bonus shares.
The company attributed the decision to a number of factors, according to a statement on Sunday.
Heliopolis revealed that it aims to overcome structural challenges, make the best use of its land portfolio, attract new finances and liquidity, enhance the company’s credit position, and increase investors’ confidence.
