Arab Finance: The Financial Regulatory Authority (FRA) has approved in principle the Export Development Bank of Egypt’s (EBank) invitation to major shareholders to subscribe to the remaining 651,787 shares of the rights issue at a nominal value of EGP 10 per share, according to a statement on July 25^th.

The bank reported previously that the first phase of capital increase subscription was covered by 99.35%, an equivalent of 99.348 million shares.

It is worth noting that the bank’s issued and paid-up capital is set to increase to EGP 6.6 billion from EGP 5.6 billion by EGP 1 billion distributed over 1 billion shares at a nominal value of EGP 10 per share.

EBank is an EGX-listed bank that offers banking and financial services, which encourage the export activities of the agricultural, industrial, commercial, and services sectors.

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