ArabFinance: The Listing Committee at the Egyptian Exchange (EGX) has approved listing the issued and paid-up capital increase for Faisal Islamic Bank of Egypt (FAIT), according to a statement.

The issued and paid capital of the bank is set to be raised to $607.47 million from $506.22 million.

The capital increase amounts to $101.24 million distributed over 101.24 million shares at a nominal value of $1 per share.

The increase will be financed from retained earnings and profits as per the standalone financial statements for the year ended December 31^st, 2020 through the issuance of 0.20000000079-for-1 bonus shares.

The eligibility in 0.20000000079:1 bonus shares distribution will be for shareholders until the end of the trading session to be held on January 5^th, 2022.

After listing the capital increase, the bank’s shares will be registered on the EGX’s database as of Thursday, January 6^th, 2022.

Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services in accordance to Islamic Sharia principles through its head office and 27 branches located across the country.