Arab Finance: Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) will distribute 0.2-for-1 bonus shares on July 11^th, as per a disclosure.

The eligibility in the stock dividend distribution will be for shareholders of a record date on July 10^th.

This comes as part of the bank’s issued and paid-up capital increase process.

On March 21^st, ADIB Egypt’s extraordinary general meeting (EGM) approved the board’s proposal to increase the issued and paid-up capital from EGP 5 billion to EGP 6 billion.

The capital increase amounts to EGP 1 billion and is distributed over 100 million shares at a nominal value of EGP 10 per share.

ADIB Egypt is an EGX-listed bank that operates within the provision of retail, corporate, and investment banking services through its network of branches across Egypt.

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