Egypt's EFG to raise capital through bonus shares

CAIRO Tue May 14, 2013 4:33am EDT

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CAIRO May 14 (Reuters) - EFG Hermes, Egypt's biggest investment bank, is seeking to raise its capital to 2.87 billion Egyptian pounds ($412.1 million) from 2.39 billion by issuing bonus shares, the bank said in a statement to the bourse on Tuesday.

EFG plans to issue one free share per five shares held, the statement said, adding that the financial regulator must approve the decision. (Reporting by Shaimaa Fayed; Editing by David Holmes)

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