EG Bank is engaged in the provision of corporate, retail, and investment banking services through a network of 16 branches located across Egypt.
EG Bank nods to capital hike, bonus shares distribution
Updated 3/9/2022 9:31:13 AM
ArabFinance: Egyptian Gulf Bank (EG Bank) (EGBE) announced that its ordinary and extraordinary general meetings (OGM and EGM) has approved raising the bank’s issued capital to $453.05 million from $422.74 million, according to a statement filed to the Egyptian Exchange (EGX).
The capital increase amounts to $30.31 million distributed over 30.31 million shares at a par value of $1 per share.
Accordingly, the bank will distribute 0.01704044-for-1 bonus shares as of March 24th, with eligibility in distribution to shareholders until the trading session sated March 23rd.
