QNB capital increase approved

QNB Alahly has received approval to raise its capital to EGP 15 bn from EGP 10 bn, according to the EGX. A rights issue from issued and paid up capital of EGP 1.4 bn was also approved. Some 148.3 mn shares are set to be distributed on 24 September with the last day of ownership before ex-rights being 20 September.