(2017-02-16) Today: QNB to discuss capital hike by LE1.4 bln Qatar national bank AlAhly (QNBA) announced in a statement sent to EGX, it called the ordinary general assembly and extraordinary general assembly to be convened on February 16.
The OGM will review ratifying the financial results ending December 2016, as well as the profits distribution suggestion.
Moreover, OGM will discuss transferring the profits of selling fixed assets to the capital reserves.
OGM also will review utilizing part of the public reserves to finance the issued capital hike.
On the other side, EGM will review authorized capital hike to LE15 billion from LE10 billion.
Moreover, the bank will increase the issued and paid capital to LE8,904,227,140 from LE7,420,189,290, with increase amounting to LE1,484,037,850.
The capital hike will be through the distribution of 148,403,785 free stocks (2 free stocks for every existing ten held).
