MNHD's board nods to capital raise

The issued capital will be increased

Traders work at the Egyptian stock exchange in Cairo.

Traders work at the Egyptian stock exchange in Cairo.

REUTERS/Mohamed Abd El Ghany
Cairo – Mubasher: The board of directors of Madinet Nasr for Housing and Development (MNHD) decided to increase the company's issued capital through a rights issue.

The issued capital will be increased by EGP 374.4 million to EGP 1.872 billion to EGP 1.497 billion by issuing one share for every four existing shares at a nominal value of EGP 1 per share, the company said in a bourse disclosure on Monday.

In the first half (H1) of 2021, MNHD logged EGP 228.6 million in net profits attributable to the parent company's shareholders, compared to EGP 482 million in H1-20.

Source: Mubasher

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