EGX approves listing of EG Bank’s capital increase
Updated 3/9/2022 3:32:35 PM
ArabFinance: The Listing Committee at the Egyptian Exchange (EGX) has approved the listing of Egyptian Gulf Bank’s (EG Bank) (EGBE) capital increase, according to a statement.
The bank’s ordinary and extraordinary general meetings (OGM and EGM) previously agreed upon raising the bank’s issued capital to $453.05 million from $422.74 million by $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.
The bank’s share after the capital increase will be registered on the EGX’s database as of March 24th.
Moreover, the committee approved to list the amendment to Article 4 of the Articles of Association regarding the bank’s main branch location.
EG Bank is engaged in the provision of corporate, retail, and investment banking services through a network of 16 branches located across Egypt.
