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Thndr Claps » EGY Claps » Real Estate 🏡 » Heliopolis Housing to Offer Additional Stake on EGX by Mid-2022🏘️

Heliopolis Housing to Offer Additional Stake on EGX by Mid-2022🏘️

by Shams Abbas
November 6, 2021

Minister of Public Business Sector Hisham Tawfiq revealed that Heliopolis Housing & Development (HELI) will offer an additional stake on the EGX by mid-2022, once the company identifies its financing needs.

Who is affected🤷 The company is currently determining its project development financing needs, which are expected to exceed EGP 1 billion. After which the National Investment Bank will determine whether to finance the capital increase through old shareholders or new investors. 

Why is this important🤔 The company had postponed the offering of an additional stake until it got awarded the Heliopark project, Dr. Tawfiq said. Heliopark is a 1,695-acre project & is located on the “Cairo – Suez” desert road, between Al-Rehab & Madinaty cities & near the New Administrative Capital.

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