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Suez Canal Bank got FRA to increase capital

Suez Canal Bank got FRA to increase capital

ِArabFinance: Suez Canal Bank (CANA) got the Financial Regulatory Authority's (FRA) approval to moving forward in capital increase measures, according to provisions of article no. 48 of listing rules.

The board of directors approved in February increasing issued and paid-up capital from EGP 100 million to EGP 2.1 billion with an increase amounting to EGP 2 billion.

It will distribute one free share for each original 20 shares with the par value financing from the 2019 profits.

Founded in 1996 and listed in 2016, MTI is Egypt’s largest distribution network by geographic coverage leveraging on a longstanding distribution platform that spans 40,000+ points of sale, with both distribution and retail channels.

 

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04 Oct 2021
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