Egyptian Financial Supervisory Authority (EFSA) has approved Egyptian Gulf Bank (EGB)’s call to existing shareholders to subscribe in the remaining capital hike’s shares, amounting to 1,191,440 shares at a nominal value of USD1 per share. This represents the remaining 3.68% of the initial USD32mn first tranche of the bank’s total planned USD129.26mn rights issue. The rights issue is expected to take place in tranches over the next three years. EGB had previously opened the subscription period for the first tranche from 10 April to 10 May 2016 and achieved a coverage ratio of 96.32%. The new subscription period for the remaining 3.68% will run from 29 May to 7 June 2016. (Arab Finance)   Egyptian Gulf Bank: USD1.20 as of 26 May 2016, Rating: Neutral, FV: USD1.33 per share, MCap: USD345 million, EGBE EY / EGBE.CA