Egypt’s Madinet Nasr Housing Submits Capital Cut Documents

Wednesday, 26th July 2017

Egyptian state-run real estate developer Madinet Nasr for Housing and Development Company submits the documents regarding a reduction in its issued capital to record EGP 997.1 mn (USD 1.3 bn), Invest-Gate reports.
The Egyptian company will decrease EGP 2.899 mn from the capital against the remaining EGP2.899 mn shares of the reward and motivation system, according to a bourse filing.
The documents are being checked for submission to the Listing Committee, the bourse filing adds.

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