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Article: Bahrain : Al Baraka Syria unit IPO opens.
- Article from:
- TendersInfo
- Article date:
- October 5, 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)
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Bahrain-based Al Baraka Banking Group will launch a $100 million initial public offer (IPO) for its Syrian unit today.
Group president and chief executive Adnan Yousif said that the launching of Al Baraka Bank Syria with a capital of $100m reflects our full confidence in our abilities and financial position to proceed with the implementation of the plans to expand our geographical network through the setting up of new banking units and the opening of more branches for the existing units.
The Al Baraka Bank Syria shares will be offered to Syrian investors from today until November 4. The capital of Al Baraka Bank Syria will be five billion Syrian pounds ...