The Egyptian Exchange's (EGX) concerned committee approved listing the new shares of Banque du Caire following a stock split from EGP 4 to EGP 2 per each, according to EGX disclosure.
The bank's capital will be distributed over 2,625,000,000 shares instead of the previous 1,312,500,000. The bank will keep the issued capital unchanged at EGP 5.250 billion
The new shares will be listed on the EGX database on December 14th.
Last July, Sanad provided Banque du Caire with a loan worth $15 million (EGP 234.91 million) for on-lending to MSMEs, agricultural producers, and microfinance institutions in Egypt.
The bank has reportedly logged a net profit after tax worth EGP 2.52 billion during the first nine months of 2020.
