CAIRO: Egyptian investment bank Naeem Holding said on Monday it would increase its capital to $320 million from $240 million in a one-for-three share issue. The new shares would be issued at $1 per share, and the date of record would be announced later, the company said in a statement.
The statement gave no further details and Naeem Holding s investor relations officer could not be immediately reached for comment. The investment bank, which also has private equity and corporate finance operations in Egypt, Saudi Arabia and the United Arab Emirates, listed 60 percent of its stock on the Egyptian stock market in November.
Shares in Naeem Holding last traded 3 percent down at $1.95 on Monday.
