Cairo - Mubasher: The Egyptian Exchange's (EGX) listing committee approved a request to list the capital raise shares of the Export Development Bank of Egypt (EBE).  

The bank's paid-up and issued capital will be increased to EGP 3.27 billion from EGP 2.72 billion through the issuance of 54.56 million bonus shares at a nominal value of EGP 10 apiece, the EGX said in a statement on Sunday. 

The 0.2-for-one bonus issue will be funded from the dividends shown in the bank's financial statements for the period ended 30 June 2020. The record date of the bonus issue is until the end of the trading session on 11 July. 

The capital raise shares will be listed as of the beginning of the trading session on 12 July. 

Moreover, the authorised capital will be raised to EGP 10 billion from EGP 5 billion.

During the first nine months of fiscal year (FY) 2020/2021, the bank registered a net profit of EGP 535.89 million, compared to EGP 978.29 million in the year-ago period.