Egyptian urban developer Madinet Nasr Housing and Development Company (MNHD) gets an approval from the Listing Committee of the Egyptian Exchange (EGX) to list the increase of its authorized capital, Invest-Gate reports.

MNHD will raise its capital from EGP 500 mn to EGP 1 bn through the issue of 500 mn shares at a nominal value of EGP 1 per share.

The due date for its bonus shares is on June 28, with distribution date is set at June 39. However, these dates should be amended in case of official vacations.