Cairo – Mubasher: The Egyptian Exchange's (EGX) listing committee approved a request to cut the issued capital of United Company for Housing and Development to EGP 343.11 million from EGP 354 million.
A total of 8.7 million treasury shares worth EGP 10.88 million will be cancelled, the EGX said in a statement on Tuesday.
The company's shares will be listed following the capital cut on 31 August.
During the first half (H1) of 2021, the company logged net profits of EGP 65.73 million, down from EGP 70.23 million in H1-20, including minority shareholders' rights.
The sales fell to EGP 92.93 million in the January-June period from EGP 120.78 million in the year-ago period.
