News Column

Mansour Agrees to Raise Egypt's AMF Share Capital Subscription

June 6, 2014

Outgoing President Adly Mansour issued a decree to approve a decision to allow Egypt to participate in an initial public offering of the Arab Monetary Fund (AMF) to raise its share capital.

The IPO on 50% or 300 million Arab Accounting Dinars (AADs) of the AMF authorized capital, to increase the share of member states, will be held upon a decision by the AMF Board of Governors during a meeting held last year in Dubai.

Egypt will be subscribing for an increase of 588 shares worth 29.4 million AADs, making it own a total of 1,764 shares worth 88.2 million AADs.

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Source: AllAfrica

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