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.
Egypt’s Madinet Nasr Housing Submits Capital Cut Documents
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Menna A. Farouk 368 Posts
Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.