Cairo – Mubasher: Egyptian Gulf Bank (EGB) has filed with the Egyptian Exchange to raise issued capital to $287.92 million from $255.6 million, according to a bourse filing.
The increase of $32.3 million will be distributed across 32.3 million shares at $1 par value each.
This increase comes as a first tranche of capital increase totaling $129.4 million, distributed across 129.4 million shares at $1 par value each.
The company's board decides the amounts as well as the timing of the tranches of the capital hike.
Last December, the lender has distributed bonus shares at 0.0942-for-1, in the framework of raising its issued capital from $233.560 million to $255.575 million.
