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EGX lists QNB Alahli capital increase

EGX lists QNB Alahli capital increase

ArabFinance: The Egyptian Exchange's (EGX) listing committee approved listing the Qatar National Bank Alahli's (QNB Alahli) (QNBA) share of issued and paid-up capital increase as well as the par value after splitting. 

The bank will increase the capital from EGP 9,794,649,850 to EGP 10,774,114,830, with an increase amounting to EGP 979,464,980. 

The bank will be issue 97,946,498 free shares, 0.09999999948 share for each share held before the increase, at par value of EGP 10 per share.

The EGX said the shareholders recorded on June 3rd are entitled to share dividends. 

Moreover, the bank will split its share's par value from EGP 10 to EGP 5, therefore, the issued capital will be amounting to EGP 10,774,114,830 distributed over 2,154,822,966 shares. It is noteworthy the bank shares after splitting will be traded starting June 8th. 

In April, Pharos sets the fair value of QNB Alahli's share at EGP 60 with its overweight recommendation.

 

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