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Abu Dhabi Islamic to doubling its capital and selling its stake in Cairo National

The Board of Directors of Abu Dhabi Islamic Bank – Egypt has approved a proposal to double the bank’s issued and paid-in capital, from EGP 2 billion to EGP 4 billion, through the subscription of old shareholders.

The bank explained that the increase is distributed over 200 million shares with a nominal value of EGP 10 pounds/share and issuance expenses of 25 piasters/share.

It also approved to sell its 50.8% stake in Cairo National Company for Investment and Securities (El Kahera El Watania Investment) ​to an investor.