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Article: Al Baraka Bank Syria IPO of $100 million goes live.
- Article from:
- CPI Financial
- Article date:
- October 8, 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 AlBaraka Banking Group has listed its shares of Al Baraka Bank Syria in an IPO which began on 4 October and will run until 4 November 2009.
The capital of Al Baraka Bank Syria will be SYP 5 billion ($100 million). Promoters have subscribed to 65 per cent of the capital (6.50 million shares amounting SYP 3.25 billion ($705,755) of which 50 per cent, amounting to SYP 1.625 billion ($352877), has already been paid. The shares that will be offered for public subscription will amount to 3.50 million shares with a value of SYP 1.750 billion representing 35 per cent of the bank's capital.
The issue price is SYP 500 per share and the subscribing ...