The securities listing committee of the Egyptian Exchange (EGX) decided on Tuesday to list secondary shares to raise the issued capital of Commercial International Bank (CIB) – Egypt from EGP 9,002,435,690 to EGP 9,081,734,430.
The EGP 79,298,740 increase, divided into 7,929,874 shares at EGP 10 par value each (19th issue), is fully paid in cash. It represents employee incentive stock option.
The lender’s post-increase shares will be added to EGX database as of the start of trading on Sunday, March 23.
CIB’s FY13 financial results had mirrored EGP 3.006 billion net profit, compared with EGP 2.226 billion net profit in FY12.