Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved listing the capital raise shares of Housing and Development Bank (HDB).
The bank’s issued and paid-up capital will be increased to EGP 1.518 billion from EGP 1.265 billion through issuing 25.3 million shares valued at EGP 253 million or EGP 10 apiece, the EGX said in a statement on Wednesday.
The 0.2-for-one bonus issue will be funded from the bank’s general reserves as per the financial statements for the period ended 31 December 2016.
The eligibility for the bonus issue will be for shareholders owning shares until the end of trading session on 16 June.
The capital raise shares will be listed at the beginning of trading session on 17 June.
During 2020, the lender achieved net profits of EGP 2.06 billion, down from EGP 2.22 billion a year earlier.
