Cairo - Mubasher: Madinet Nasr Housing and Development on Monday submitted the documents concerning a reduction in its issued capital to EGP 997.1 million from EGP 1 billion, according to the Egyptian Exchange (EGX).
The firm will decrease EGP 2.899 million from the capital against the remaining 2.899 million shares of the reward and motivation system at par value of EGP 1 per share.
The documents are being checked for submission to the Listing Committee, the bourse added.
The EGX's Listing Committee had previously agreed to raise the issued capital of Madinet Nasr Housing to EGP 1 billion from EGP 500 million.
