The increase in capital involved three elements:
1- A pre-emptive rights issue to existing shareholders of 4,664,705 shares at a price of QR136.50 per share.
2- An issue of 18,435,295 shares represented by 92,176,475 Global Depositary Receipts (GDRs) to international institutional investors, at a price of $7.50 per GDR, equivalent to QR136.50 per share.
3- A private placement of 900,000 shares to Qatari investors at a price of QR136.50 per share.
The new shares are expected to be admitted for trading on the Doha Securities Market on 1 July.
Admission of the GDRs to the Official List of the UK Listing Authority, and dealing of the GDRs on the London Stock Exchange, are expected to take place on 2 July.
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Commercial Bank announces the result of its capital raising
- Qatar: Monday, June 30 - 2008 at 09:52
- PRESS RELEASE
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The Commercial Bank of Qatar announced the successful completion of its capital raising, involving the issue of 24,000,000 new shares to increase its issued and paid-up capital from QR1,822,053,120 to QR2,062,053,120.
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Posted by Eman HassanMonday, June 30 - 2008 at 09:52 UAE local time (GMT+4)
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