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Article: Al Baraka Bank Syria IPO oversubscribed 4.4 times netting $165 million.

Article from:
CPI Financial
Article date:
November 8, 2009
Copyright

Byline: news@cpifinancial.net (Staff Writer)

The one-month long IPO of Al Baraka Bank Syria was closed on November 4, 2009. The IPO netted total subscription proceeds of SYP 7.670 billion lire ($165 million) or 4.4 times the amount offered for subscription. A large number of Syrian nationals as well as private and public institutions and companies took part in the IPO.

On this occasion, Sheikh Saleh Abdullah Kamel, Chairman of Al Baraka Banking Group, said he was very pleased with the great success of the IPO of Al Baraka Bank Syria, "We are very pleased with this great success which reflects the high status of Al Baraka Banking Group and the confidence ...

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