The Clap Societe Arabe Internationale de Banque (SAIB) revealed its plans to exit its stake in El Kahera Wataneya Investment (KWIN) are still intact, waiting for the right offer.
More deets The announcement came as a response to the EGX after the latter had recently inquired about any developments on the matter. Abu Dhabi Islamic Bank currently owns the majority stake in KWIN, while SAIB didn’t disclose the size of its stake.
In other SAIB news The bank is currently in the process of raising its capital to comply with CBE regulations. SAIB will raise its paid-in capital by $7.5 million by issuing a bonus share for every 20 original shares.