Cairo – Mubasher: The National Bank of Kuwait – Egypt (NBK-Egypt) said Sunday that it will hold an extraordinary general meeting (EGM) on 29 March to discuss increasing the issued capital from EGP 1 billion to EGP 1.5 billion via distributing bonus shares.
The EGM will also discuss raising the authorised capital to EGP 2.5 billion, according to a bourse filing.
The bank will use part of the general reserve and retained profits to finance the capital hike, in case shareholders approved the proposals.
The bank’s stock rose last Thursday by 1.5% to EGP 27.
