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Faisal Islamic Bank approves capital hike

Faisal Islamic Bank approves capital hike

ArabFinance: Faisal Islamic Bank of Egypt’s (FAIT) (FAITA) extra-ordinary general meeting approved on Saturday the capital hike and amending articles (7) of the bank’s articles of association, as per a Sunday bourse filing.

The authorized capital will amount to $1 billion, up from $500 million, while the issued capital will rise to $440.19 million, up from $366.8 million.

The capital will be distributed over 440.19 million shares, instead of 366.8 million shares.

 

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