Arab Finance: The Listing Committee at the Egyptian Exchange (EGX) has approved listing an increase of EGP 3.234 billion in Al Baraka Bank Egypt’s (SAUD) issued and paid-up capital, according to an EGX disclosure on December 6th.
The issued and paid capital of the bank is set to be raised to EGP 5.089 billion from EGP 1.855 billion.
The EGP 3.234 billion capital increase is distributed over 462.033 million shares at a nominal value of EGP 7 per share.
The eligibility in the 1.7428319683-for-1 bonus shares distribution will be for shareholders until the end of the trading session to be held on Tuesday, December 6th.
The bank’s shares will be registered on the EGX’s database as of Wednesday, December 7th, 2022.
Al Baraka Bank is an Egypt-based commercial bank and part of Al Baraka Banking Group, a Bahraini joint-stock company.
The bank is engaged in the provision of retail, corporate, and investment banking solutions, in accordance with the Islamic sharia principles, through a network of 32 branches located across Egypt.