EGX lists Banque du Caire LE3B- capital increase

CAIRO – 12 February 2020: The Listing Committee at the Egyptian Exchange (EGX) approved Wednesday to list a capital increase of Banque du Caire by LE 3 billion, distributed over 750 million shares at a par value of EGP 4 per share.

EGX clarified in a statement that the capital increased to LE 5.25 billion, up from LE 2.25 billion. It explained that the increase was paid in cash through the subscription of the main investor (Bank Misr) excluding the pre-emptive rights of the bank’s existing shareholders.

“These new shares shall be added to EGX database starting Feb. 17 trading session,” it stated.

Earlier this month, Chairman of Banque Misr Mohamed el-Etreby said that his bank seeks to offer a stake of up to 45 percent of Banque du Caire on EGX during the first half of 2020.