Heliopolis Housing and Development's board, in its October 20, 2024 meeting, approved the proposal of raising the company’s issued capital from EGP 333,771,300.00 to EGP 1,001,313,900.00. The EGP EGP 667,542,600 million increase will be achieved by issuing 1,335,085,200 billion bonus shares at a 2-for-1 ratio, with a nominal value of EGP 0.25 per share. The capital hike will be funded from 2023 profits and is subject to approval by the Financial Regulatory Authority.
Source Company disclosure to EGX
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