Cairo – Mubasher: The ordinary general meeting (OGM) of the Egyptian Gulf Bank (EG Bank) approved distributing bonus shares to increase the capital, as a financing from retained earnings, subject to the approval of the Financial Regulatory Authority (FRA), the General Authority for Investment, and the Egyptian Exchange (EGX).
EG Bank’s shareholders agreed on distributing EGP 452.36 million worth of bonus shares to the entitled shareholders, according to a bourse disclosure to the EGX.
The board members will discuss in the coming days raising the capital as well as the number of shares to increase the bank’s capital, in addition to the percentage of the distribution.
