The shares of Cairo Housing and Development, listed on the Egypt Stock Exchange, increased by 0.48%, during the trading of the session today, to circulate at the price of 2.09 pounds per share, after its decision to increase the capital.
The trading on Cairo Housing shares at that time came through 730.33 thousand shares with a value of trading 1.52 million pounds.
The highest price for the share was at that time at 2.10 pounds, while the lowest price for the share was at 2.06 pounds.
The price of the shares of the Cairo Housing and Development Company came after the company’s decision to increase the issued capital from 448.18 million pounds to 530.504 million pounds, based on the mandate of the General Assembly of the company.
The company announced that it was decided to issue 164.64 million shares, distributed to shareholders with credit balances, as 162.49 million shares will be allocated to Wadi Consulting Company, and 2.15 million shares for Pioneers Brunette Development Company.
The shares will be issued with a fair value of 3.03 pounds per share, including 0.50 pounds, a nominal value and 2.53 pounds.
The Cairo Housing Company acquired 20.98% of the shares of “United Housing and Development”, by purchasing 54.8 million shares worth 498.8 million pounds, at 9.09 pounds per share.
Last December, a compulsory purchase of 54.88 million shares of United Housing and Development Company were implemented, in addition to 2.15 million shares of Cairo Housing, according to the purchasing offer from Cairo to acquire up to 133 million shares, equivalent to 50.87% of the shares of the United Company, through exchange of shares only.
Earlier, the extraordinary general assembly of the Cairo Housing and Development Company agreed to increase the issued capital to 647.68 million pounds, in order to facilitate the implementation of the acquisition purchase offer.
Referring to the company’s financial results, Cairo Housing and Development Company recorded a net profit of 1.16 billion pounds in the first nine months of 2024, compared to 14 million pounds in the same period in 2023.
The company’s revenues increased to 319.9 million pounds, compared to 262.27 million pounds in the same period last year. The company recorded the differences in reassessing real estate investments at about 1.499 billion pounds.
As for the level of independent lists, the company achieved profits of 1.18 billion pounds in the first nine months of 2024, compared to 24.96 million pounds during the same period last year.
