EFG-Hermes to reduce capital to 3.07bn Egyptian pounds

By Yomna Yasser On Oct 1, 2015

Egypt’s EFG Hermes, one of the Middle East’s largest investment banks, is to reduce its capital by 184.782 million Egyptian pounds (US$23.61 million) through terminating treasury stocks, it said Thursday.

The company’s capital will fall to 3.074 billion pounds, from 3.259 billion, it said in a statement to the Egyptian bourse.

Source: Reuters

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