EGX Approves Housing and Development Bank”s Authorized Capital Increase to EGP 30 Billion
The Securities Listing Committee of the Egyptian Exchange (EGX) has approved the listing of the authorized capital increase for the Housing and Development Bank (HDB) from EGP 10 billion to EGP 30 billion on the Egyptian securities listing schedule (Shares).
The committee also approved the listing of the bank's issued and paid-in capital increase, raising it from EGP 5.313 billion to EGP 10.626 billion. This EGP 5.313 billion increase is distributed across 531.3 million shares, with a nominal value of EGP 10 per share.
According to the EGX, the capital hike will be executed through the issuance of bonus shares at a ratio of one free share for every original share held prior to the increase. This is funded by the general reserve balance recorded in the financial statements ending December 31, 2024, representing the bank's eleventh share issuance.
Bonus Share Distribution The EGX clarified that the eligibility for the free distribution—one bonus share per original share—will be granted to shareholders who purchase the stock by the end of today's trading session.
The shares of the Housing and Development Bank, inclusive of the bonus increase, are scheduled to be added to the database with a newly determined reference price starting from the beginning of tomorrow's trading session. Following this increase, the total number of listed shares for the bank will reach 1.062 billion shares.
Keywords: Egyptian Exchange (EGX) | Housing and Development Bank (HDB) | Capital Increase | Bonus Shares | Financial Markets | Paid-in Capital | Stock Market