Cairo – Mubasher: The extraordinary general meeting (EGM) of United Company for Housing and Development has approved to cut the company's issued and paid-up capital to EGP 343.11 million from EGP 354 million.
The company will reduce the capital by EGP 10.88 million by cancelling 8.71 million treasury shares according to the balance as of 31 December 2020, the company disclosed in a bourse filing on Thursday.
It is noteworthy to mention that during the first quarter (Q1) of 2021, the company's net profits rose by 38.4% to EGP 29.8 million, up from EGP 21.54 million in Q1-20.
