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.