Egyptians for Housing’s capital increase subscription covered by 91.24% in 1st phase

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Egyptians for Housing and Development Company’s (EHDR) first phase of capital increase subscription has been covered by 91.241% at a value of EGP 89.508 million, according to a disclosure on March 24th.

Accordingly, 328.468 million shares were covered, with the remaining uncovered shares amounting to 31.532 million.

Through the rights issue, the company’s issued capital is set to increase from EGP 300 million to EGP 336 million via the issuance of 360 million shares at a par value of EGP 0.25 per share.

Egyptians for Housing operates in the real estate development and investment sector, with the focus on the businesses of buying, purchasing, dividing, and selling lands, and establishing buildings and facilities.

The company’s business also includes setting up urban expansion projects, residential and commercial complexes, and new township projects.