Egypt's EGX approves EG Bank's $32mln capital raise

The bank’s capital will be raised to $422.7mln

  
The Egyptian Exchange bell is seen at the stock exchange in Cairo, April 28, 2015. Image used for illustrative purpose

The Egyptian Exchange bell is seen at the stock exchange in Cairo, April 28, 2015. Image used for illustrative purpose

REUTERS/Mohamed Abd El Ghany

Cairo –  The Egyptian Exchange’s (EGX) listing committee approved the listing of the capital raise shares of the Egyptian Gulf Bank (EG Bank).

The bank’s paid-up and issued capital will be raised by $32.122 million to $422.74 million from $390.617 million, according to a bourse statement on Thursday.

The eligibility for the 0.0822-for-one bonus issue will be for shareholders owning shares until the end of the trading session on Sunday, 8 November.

During the first half (H1) of 2020, EG Bank logged net profits of EGP 306.98 million, up from EGP 293.2 million in the year-ago period.

Source: Mubasher

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