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
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.
