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Egypt’s financial regulator, Egyptian Financial Supervisory Authority (EFSA), granted Union National Bank Egypt (UNB-Egypt) (UNBE) its initial approval to start a second phase of rights issue so as to subscribe in 4.7 million shares, remaining of shares from the first phase.
The shares will have EGP 5.6 par value per share.
Rights issue will be opened from August 25 till August 27.
EFSA added, in a statement to the stock exchange, that shareholders as of record till the close of trading on July 10, 2014 are entitled to take part in the second phase with no quota.
