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EGX approves listing of Faisal Islamic Bank Egypt’s capital increase

EGX approves listing of Faisal Islamic Bank Egypt’s capital increase

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 31st, 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 5th, 2022.

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

 

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