The EGX approved the listing of the issued and paid-up capital increase shares of Suez Canal Bank (CANA).
More Details🧐 The bank’s paid-in capital will go from EGP 2.2 billion to EGP 2.9 billion, an increase by EGP 704.32 million.
The increase will be distributed over 70.43 million bonus shares, with 0.320 bonus shares per 1 share.
The EGX is set to list the bonus shares on its database today.
Bonus Shares vs Stock Split🤨 Both bonus shares & stock splits lead to an increase in the number of shares outstanding, resulting in a decrease in the market price per share. Bonus shares, however, do not change a stock’s par value, unlike a stock split which split the par value accordingly.
Why is this Important🤔 Those who owned CANA up until yesterday’s session are eligible for the bonus shares.
