United Housing's EGM approves capital cut

The company will reduce the capital

Cairo – Mubasher: The extraordinary general meeting (EGM) of United Company for Housing and Development has approved to cut the company's issued and paid-up capital to EGP 343.11 million from EGP 354 million.

The company will reduce the capital by EGP 10.88 million by cancelling 8.71 million treasury shares according to the balance as of 31 December 2020, according to a bourse filing on Thursday.

It is noteworthy to mention that during the first quarter (Q1) of 2021, the company's net profits rose by 38.4% to EGP 29.8 million, up from EGP 21.54 million in Q1-20.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities