Egypt's EFG Hermes to reduce capital to 3.07 bln Egyptian pounds

Reuters , Thursday 1 Oct 2015

People exit the new headquarters of Egypt-based investment bank EFG-Hermes, on the outskirts of Cairo, October 19, 2010 (Photo: Reuters)

Egypt's EFG Hermes, one of the Middle East's largest investment banks, will reduce its capital by 184.782 million Egyptian pounds ($23.61 million) through terminating treasury stocks, it said on Thursday.

The company's capital will fall to 3.074 billion pounds, from 3.259 billion, it said in a statement to the Egyptian bourse.

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