Egypt's EGX approves listing EBank’s $50mln capital increase

The eligibility in distribution to shareholders is until the record date of August 21

Staff Writer, Arab Finance

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The Egyptian Exchange’s (EGX) listing committee has approved listing an increase of EGP 2.456 billion to the Export Development Bank of Egypt's (EBank) issues and paid-up capital, as per a disclosure.

Accordingly, the capital will be increased to EGP 9.897 billion from EGP 7.441 billion via the distribution of 0.33-for-1 bonus shares at a nominal value of EGP 10 per share.

The eligibility in distribution to shareholders is until the record date of August 21st.

The listing committee also endorsed the listing of an increase to the bank's authorized capital, raising it to EGP 20 billion from EGP 10 billion.

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