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...
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