Cairo - Mubasher: O B Financial Holding, formerly known as Orascom Financial Holding, has approved a capital hike for its 99.92%-owned subsidiary, B2C, according to a bourse disclosure.
The board of OB Financial decided to raise the subsidiary's issued capital to EGP 110 million during their 19 February meeting.
Meanwhile, the unit’s authorized capital is expected to rise to EGP 1 billion, with the paid-up capital standing at EGP 30 million.
Last September, the Egyptian Exchange (EGX) Listing Committee approved for Orascom Financial Holding to change its name to O B Financial Holding without alteration of its ticker symbol, OFH.
