Cairo - Mubasher: The Egyptian Exchange (EGX) announced it received Sunday a disclosure report from Madinet Nasr Housing and Development as regards raising the company's capital from EGP 250 million to EGP 375 million.
The capital increase of EGP 125 million, will be distributed across 125 million shares at EGP 1 par value each and will be financed from the deferred dividends of the previous year.
Earlier, the company’s shareholders gave a nod to raise the company’s issued capital to EGP 375 million through the distribution of bonus shares at 0.5-for-1.
The real estate developer posted earlier a 4.7% decline in net profit for the first nine months of 2015 to EGP 154.36 million, down from EGP 161.99 million in the prior-year period.
