Advertisement

Egypt's EFG Hermes to reduce capital to 3.07 bln Egyptian pounds

Reuters
A man walks past the investment bank EFG Hermes at the Smart Village,on the outskirts of Cairo October 20, 2014. REUTERS/Asmaa Waguih

CAIRO (Reuters) - Egypt's EFG Hermes, one of the Middle East's largest investment banks, will reduce its capital by 184.782 million Egyptian pounds ($23.61 million) through terminating treasury stocks, it said on Thursday. The company's capital will fall to 3.074 billion pounds, from 3.259 billion, it said in a statement to the Egyptian bourse. ($1 = 7.8250 Egyptian pounds)