Egypt’s Regulator Approves Palm Hills Subscription in Capital Hike

Egyptian Financial Supervisory Authority (EFSA) announced that it approved Palm Hills Development Co. – (PHDC.CA)’s request to increased its issued and paid-up capital to EGP 600 million.
Palm Hills has called for existing shareholders to subscribe in issued and paid capital amounting to EGP 600 million for 300 million at a nominal value of EGP 2 per share in addition to EGP 0.03 issuance fees.   

Shareholders as of 28/10/2013 are entitled for subscription.