Egypt - The Egyptian Exchange’s (EGX) concerned committee approved listing Palm Hills Developments' (PHD) shares after the capital cut, according to EGX’s disclosure.

The company cut its issued and paid-in capital to EGP 6.162 billion from EGP 6.235 billion with a decrease of EGP 72.700 million.

The capital will be decreased by writing off 36,350,000 treasury shares.

The company shares have reached 3,081,249,635 shares at the par value of EGP 2 per each.

Consolidated net profit PHD surged 152% Year on Year (YoY) during the first quarter (Q1) of 2021

PHD is an Egypt-based company that focuses on real estate investment in the new cities and urban communities, land reclamation and cultivation, and other activities associated with the Company’s operations.

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