EBank’s capital increase subscription covered by 99.35% in 1st phase

EBank’s capital increase subscription covered by 99.35% in 1st phase

Arab Finance: Export Development Bank of Egypt’s (EBank) capital increase subscription has been covered by 99.35%, an equivalent of 99.348 million shares, according to the bank’s statement filed to the Egyptian Exchange (EGX) on July 19th. The remaining uncovered shares of 651,787 will be offered in the second phase of subscription. It is worth noting that the bank’s issued and paid-up capital is set to increase to EGP 6.6 billion from EGP 5.6 billion by EGP 1 billion distributed over 1 billion shares at a nominal value of EGP 1 per share. EBank is an EGX-listed bank that offers banking and financial services, which encourage the export activities of the agricultural, industrial, commercial, and services sectors.