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Thursday, 21 November 2019

Egypt's CIB to issue one bonus share for each four held

Reuters , Tuesday 24 Nov 2015
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Views: 813

Egypt's Commercial International Bank (CIB), the country's largest listed bank, will issue one bonus share for each four held, the bank said in a bourse statement on Tuesday.

Egypt's stock exchange in February approved the bank's request to increase its capital by LE2.29 billion ($293 million) to LE11.47 billion ($1.4 billion).

The bank will increase its capital from its reserves and in return will issue 229.4 million shares in the bonus issue at a nominal value of LE10 per share.

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