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 |
| New Price/Share | $33.18 |
| Capital After Share Price Increase and New Issuance | $105.88M |
| Midclear Execution Date | 14/03/2016 |
Source: Midclear