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Blom Egypt to raise $140m capital

  • Egypt: Monday, September 01 - 2008 at 10:54

Egypt's Capital Market Authority has given preliminary approval to Blom Bank Egypt to raise its capital to $140m, Reuters has reported. The bank would offer 25 million new shares to existing shareholders at a par value of 10 pounds each. The bank has currently 50 million total number of shares. Blom Bank Egypt is a subsidiary of Lebanon's Blom Bank.

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