Egyptian urban developer, Madinet Nasr for Housing and Development (MNHD), reveals it has extended the deadline set for shareholders wishing to convert their shares into global depository receipts (GDRs), Invest-Gate reports.

MNHD extended the deadline for shareholders to September 7.

In an earlier extraordinary general meeting, the public shareholding company approved to convert up to 33% of capital into GDR.

The Company’s projects include Nasr Gardens, which is a commercial development project in the northern suburbs of Cairo as well as Nasr City, a residential and commercial project comprising 752 houses and more than 41 shops.