Arab Finance: The Egyptian Exchange (EGX) Listing Committee has approved the increase of Export Development Bank of Egypt's (EBank) authorized capital from EGP 20 billion to EGP 40 billion, according to a statement.
The committee also approved the increase of EBank’s issued and paid-in capital from EGP 13.6 billion to EGP 18 billion, representing an increase of EGP 4.4 billion.
The transaction will be executed by issuing 440 million bonus shares with a nominal value of EGP 10 per share, at a ratio of 0.323 bonus shares for every original share held.
Following the capital raise, the bank’s shares will be added to the EGX database effective from the start of trading on Wednesday, October 7, with the reference price adjusted to reflect the bonus share distribution.
The total number of shares after the increase will reach 1.8 billion shares.
The increase will be financed from shareholders’ dividends, based on the bank’s financial statements for the year ended December 31, 2025.
In July, the lender’s shareholders approved the capital hike during their ordinary general meeting (OGM).
