Egypt’s corporate news: February 13
National Societe Generale Bank (NSGB.CA) held its ordinary and extraordinary general assemblies yesterday, which approved FY2000 results and distribution of a cash dividend of LE1.00/share. Distribution date is March 11. Moreover, the assembly approved an LE80 million capital increase, raising paid-in capital from LE220 million to LE300 million. The increase in capital will be financed from reserves in the form of an 8:22 stock dividend.
According to Al Alam Al yom newspaper, VodaFone Misr approved the public offering of 15 percent of its shares in its general assembly held yesterday. On a different note, the GA also approved changing the company’s name to VodaFone –Misr telecommunication.
Merrill Lynch and Morgan Stanley Dean Witter have been selected out of 19 international institutions by the Ministerial Economic Group to play the role of lead managers in Egypt’s first eurobond to be offered on world markets. Minister of Finance Medhat Hassanein confirmed the two leading investment banks would share both responsibility and fees and be consultants on issues concerning timing and pricing of the bond.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)