Heliopolis Housing is said to have sold a portion of its receivables to a local bank
Heliopolis Housing is reported to have signed a receivable factoring contract with a local bank worth EGP410 million, for which it received EGP320 million in cash. The company is also said to be negotiating a similar contract, worth EGP140 million, with the same bank, for which it is set to receive EGP110 million. The contract is planned to be signed before end of 3Q2015/16. (Al Borsa) Heliopolis Housing: EGP44.38 as of 19 January 2016, Rating: Buy, FV: EGP73.15 per share, MCap: USD631 million, HELI EY / HELI.CA
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