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CAIRO - Commercial International Bank Egypt (CIB) announced Monday it will hold an Ordinary General Assembly meeting on September 25, 2025, where shareholders will vote on a proposal to increase the bank’s capital through the issuance of bonus shares.
According to a press release statement, the bank plans to utilize a portion of its general reserve to increase its issued and paid-in capital from EGP 30.71 billion to EGP 33.78 billion, representing an increase of EGP 3.07 billion.
The proposed capital increase would be implemented by distributing one bonus share for every ten existing shares, resulting in the issuance of 307,085,100 new shares. The bank stated that fractional shares would be rounded in favor of smaller shareholders.
The agenda for the meeting also includes approving changes to the board of directors composition that have occurred since the previous General Assembly held on March 23, 2025, and amending Articles 6 and 7 of the bank’s statutes to reflect the capital increase.
Shareholders can participate in the meeting either physically at the bank’s headquarters in Smart Village or virtually through the "E-magles" platform. Registration for attendance opens on September 8, and voting via the platform begins on September 17.
The capital increase plan remains subject to approval from the Central Bank of Egypt. If the required legal quorum is not met at the initial meeting, a second meeting will be held on September 28.
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