Egyptians Real Estate Fund’s EGM oks business volume increase, FV

The fund posted a 66.7% Year on Year decline in its net profit in 2020

  

ArabFinance: Egyptian Real Estate Fund’s (EGREF) extraordinary general assembly approved setting the fair value (FV) at EGP 11.15 per document as of December 31st 2020, according to the fund’s statement to the Egyptian Exchange.

The EGM also raising the fund’s business volume to EGP 200 million from EGP 80.14 million, distributed on 11.98 million documents at a nominal value of EGP 10 per document.

In January, the fund mulled increasing its business volume to EGP 200 million.

The fund posted a 66.7% Year on Year decline in its net profit in 2020, recoding EGP 959,495.

The fund is a Cairo-based private company operating within the real estate sector focusing on specialized real estate investment trusts.

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