Cairo – Mubasher: United Company for Housing and Development submitted documents to increase the issued and paid-in capital from EGP 181.25 million to EGP 226.566 million.
The company intends to raise the capital by EGP 45.31 million, distributed over 36.25 million shares at a nominal value of EGP 1.25 per share, to be financed from the deferred and 2016 profits.
The firm noted that the documents are still under investigation, according to a bourse filing on Sunday.
In 2016, the company’s profits rose 100% year-over-year to EGP 72.3 million.
United Company's capital amounts to EGP 135.9 million, distributed over 108.7 million shares, at a nominal value of EGP 1.25 per share.
By 10:50am Cairo time, the stock added 1.07% to stand at EGP 7.54.
