Export Development Bank requests listing capital hike shares

CAIRO – 6 August 2017: Export Development Bank of Egypt (EDBE) has applied for listing the issued and paid-up capital increase shares, a Sunday stock report said.

The bank raised its capital from LE 228 million to LE 1.728 billion ($12.8 million to $97.2 million) and from LE 1.440 billion, distributed over 28.8 million shares at a nominal value of LE 10 per share.

The capital top-up was funded from the statuary reserves and the retained profits, according to the bank’s financial statements in June 30, 2016.

The bank was established in 1985 as a financial institution to boost Egyptian exports.