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Africa & The Middle East - 23 February 2015

Qalaa Holdings proposes EGP1.7 billion capital increase

Qalaa Holdings’ Board of Directors has approved a capital increase of EGP1.7 billion, to be primarily funded through the capitalisation of liabilities resulting from the purchase of additional shares in core subsidiaries. An EGM will now be held to approve the increase in paid-in capital from EGP8 billion to EGP9.7 billion.