< Arab Finance - News - FRA nods to capital hike for EBank

Market is closed

EGX 30 14,838.31 0.35%

Count Down to relaunch



FRA nods to capital hike for EBank

FRA nods to capital hike for EBank

Arab Finance: The Financial Regulatory Authority (FRA) agreed to publish the disclosure on Export Development Bank of Egypt’s (EBank) (EXPA) decision to raise the issued and paid-up capital by EGP 1.327 billion, according to a statement issued on September 25th.

Accordingly, the bank’s issued and paid-up capital shall increase to EGP 6.6 billion from EGP 5.27 billion.

The capital increase will be implemented in two stages; the first is through the issuance of 32.736 million bonus shares at a value of EGP 327.36 million, and the second by the cash subscription of EGP 1 billion from senior shareholders.

The EGP 1 billion increase will be distributed over 100 million shares at a nominal value of EGP 10 per share, in addition to issuance expenses of EGP 0.10 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.

 

Recommended Stocks

13 Jun 2022
Delta Sugar SUGR
Close
23.15
Change
-01.03
Hold

All rights reserved to Arab Finance 2020 ©

Back to top