Following the extraordinary general assembly’s approval on the 16th of February, Middle East & Africa Bank S.A.L increased its capital from LBP156B (equivalent to $103.48M) to LBP186B (equivalent to $123.38M) by issuing 3M nominal shares with a value of LBP10,000/share (equivalent to $6.63/share). The transaction was executed through Midclear on the 14th of March, 2016, sending the number of non-listed common shares to 18.6M.
MEAB’s Capital Increase Details
Increase in Capital | $19.90M |
Number of Nominal Shares Issued | 3M |
Price/Share | $6.63 |
Capital after Issuance | $123.38M |
Midclear Execution Date | 14/03/2016 |
Source: Midclear