Egyptians for Housing's EGM okays stock split

The EGM also ratified amending articles no. 6 and 7 of the company’s article of association

ArabFinance: Egyptians for Housing and Development Company (EHDR) extraordinary general meeting (EGM) approved stock split from EGP 2 to EGP 0.25, according to the company’s September 22nd statement filed to the Egyptian Exchange.

The EGM also ratified amending articles no. 6 and 7 of the company’s article of association.

The company reported a consolidated net profit of EGP 2,193,704 in the first half (H1) of 2020, an 83% decline from EGP 13,072,850 achieved in H1 2019.

Standalone net profit reached EGP 60,376,566 in H1 2020, a 545% rise from EGP 9,347,359 posted in H1 2019.

Egyptians for Housing is engaged in the real estate development and investment sector. The company focuses on buying, purchasing, dividing, and selling lands, and establishing buildings and facilities. This is in addition to setting up urban expansion projects, residential and commercial complexes, and new township projects.

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