EGX greenlights listing EG Bank’s capital increase

Traders work at the Egyptian stock exchange in Cairo, Egypt September 5, 2023. REUTERS/Shokry Hussien Image used for illustrative purpose.
Reuters

This increase is distributed over 10.604 million shares, equivalent to 0.212-for-1 bonus shares, at a par value of $1 per share

Staff Writer, Arab Finance

July 10, 2024

PHOTO
Traders work at the Egyptian stock exchange in Cairo, Egypt September 5, 2023. REUTERS/Shokry Hussien Image used for illustrative purpose.

The Egyptian Exchange’s (EGX) listing committee has approved listing an increase of $10.604 million for the Egyptian Gulf Bank (EG Bank) issued and paid-up capital, the EGX disclosed on July 10th.

This increase is distributed over 10.604 million shares, equivalent to 0.212-for-1 bonus shares, at a par value of $1 per share.

Thus, the capital will be increased to $510.106 million from $499.502 million.

The 0.212-for-1 bonus shares will be distributed, with eligibility in distribution to shareholders until a record date of July 28th.

The company's capital after the increase will be listed on the EGX's database on July 29th.

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