Cairo – Mubasher: Egyptian Gulf Bank (EG Bank) submitted a formal request to the Egyptian Exchange (EGX) to raise its issued and paid-in capital by $32.3 million, according to a bourse statement on Tuesday.
The company will thus operate with $287.9 million rather than $255.5 million if Egypt’s bourse approves the request, the statement revealed.
This top-up will be divided into 32.3 million shares at $1 each, the statement added.
Over the first nine months of 2016, the company reported a net profit of EGP 219.8 million, up 41.14% year-on-year.
The stock quote steadied at $1.10 on Tuesday.
