VOL. XXXIX

No. 37

10-June-1996

EGYPT

Egyptian American In Public Share Issue

The state-owned Bank of Alexandria is to relinquish majority control of Egyptian American Bank (EAB), and EAB has announced that it intends to raise its share capital from a nominal E100mn to E120mn, E5mn being offered to employees and the remaining E15mn to the public. The existing partners in EAB - Bank of Alexandria (51%) and American Express Bank (49%) - will see their equity stakes diluted in proportion to...