Cairo – Mubasher: The extraordinary general meeting of Egyptian Gulf Bank (EGB) gave a nod to raise the company’s issued and paid-in capital by $129.4 million over number of tranches.
The shareholders meeting approved increasing EGB capital to $287.92 million, in the first tranche, through offering 32.3 million shares for subscription in right issue.
Meanwhile, the meeting gave a nod to trading the right issue separated from the original stock, according to the Egyptian Exchange listing rules.
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.
