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EGX listing committee approves CIB’s 25% capital increase through bonus shares

The listing committee approved CIB’s request for a 25% capital increase through bonus shares, approved by the bank’s AGM in Mar 2018, from EGP11.67bn to EGP14.59bn. The ex-date for the 1:4 bonus shares will be on 13 Feb 2019 and will be funded through the bank’s reserves. 
CIB: EGP83.20 as of 30 Jan. 2019, Rating: Buy, TP: EGP105.00/share, MCap: USD5,513mn, COMI EY/COMI.CA