Cairo – Mubasher: The board of directors of Porto Group Holding will review the proposals submitted by the management, including rebranding to Porto Developments.
The board will also discuss the company’s plans for launching three projects (Golf Porto Cairo, Porto Assiut, and Porto Aghadir) in the upcoming period, the company said in a bourse disclosure on Sunday.
The board will meet to take a decision on the matter before being referred to the extraordinary general meeting (EGM) for approval.
Last week, the property developer said it will restructure its administrative and executive system, including rebranding to Porto Developments.
During the first six months of 2020, Porto Group Holding suffered net losses of EGP 24.7 million, versus net profits of EGP 80.07 million in the same period a year earlier, including minority shareholders’ rights.
