Following the approval of the extraordinary general assembly on the 22nd of January 2016, Credit Bank S.A.L increased its capital by LBP79.39B (equivalent to $52.67M) to LBP159.62B (equivalent to $105.88M). The capital increase will take place through the increase of the nominal value of a share from LBP26,000/share (equivalent to $17.25/share) to LBP50,000/share (equivalent to $33.18/share) and the issue of 106,780 nominal shares with a similar value of LBP50,000/share (equivalent to $33.18/share). The transaction was executed at Midclear on the 14th of March 2016, sending the number of non-listed common shares to 2.24M and the number of preferred shares to 950,000.
Credit Bank’s Capital Increase Details
|Increase in Capital||$52.67M|
|Number of Nominal Shares Issued||106,780|
|Capital After Share Price Increase and New Issuance||$105.88M|
|Midclear Execution Date||14/03/2016|