|
|
Article: Investcorp to issue $40m shares to meet demand.
- Article from:
- Gulf Daily News (Manama, Bahrain)
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
MANAMA: Bahrain-based Investcorp is to issue a further $40 million of preference shares to meet additional demand from investors who subscribed to its recent capital raise.
The move got the go ahead yesterday at the bank's extraordinary general assembly.
Investcorp had received commitments in excess of the $500m of shares that could be issued under the firm's current Memorandum of Association.
An amendment approved by the shareholders yesterday will enable Investcorp to issue additional preferences shares to cover this oversubscription.
"We have seen strong demand for our preference share issue, which we see as a confirmation of the ...