Egypt: EIUD's board greenlights EGP $296,045 capital raise
Arab Finance: The board members of Egyptians for Investment and Urban Development (EIUD) approved raising the issued and paid-up capital to EGP 165 million from EGP 150 million, according to a bourse disclosure.
The company will increase its capital by EGP 15 million, distributed over 150 million shares, with a nominal value of EGP 0.10 per share.
Accordingly, EIUD will distribute 1-for-10 bonus shares, financed from the retained earnings account for 2024, valued at EGP 17.531 million.
Founded in 1998, the company is engaged in real estate development and construction projects. Its activities include investment in real estate, tourism, construction, land subdivision, tourist villages, hotels, restaurants and territorial division, real estate development.
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