Egyptian Gulf Bank ratifies capital increase to $129.3 million

Egyptian Gulf Bank extra-ordinary general assembly (EGM) ratified the bank’s issued and paid capital increase on Tuesday.

The increase amounts to $129.4 which will be on tranches set by board of directors.

Furthermore, the general assembly approved an issued and paid capital increase of $287.92 million through cash subscription accordingly the first tranche will be amounting to 32.3 million shares.