Cairo – Mubasher: Pharos Research has set the fair value (FV) of Madinet Nasr Housing and Development (MNHD) at EGP 9.34 per share, maintaining its overweight recommendation for the stock.
In May, the Egyptian Exchange’s (EGX) listing committee approved increasing MNHD issued and paid-up capital by EGP 240 million, distributed over 240 million shares at a nominal value of EGP 1 apiece.
During the first quarter of 2019, MNHD’s net profits amounted to EGP 332.3 million, compared to EGP 313.5 million in the year-ago period.
