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Ithmaar to raise $500m capital
- Bahrain: Sunday, October 18 - 2009 at 10:10
Bahrain-based investment bank Ithmaar, has announced plans to raise between $400m and $500m through a mixture of a rights issue, a convertible sukuk and a credit call option to shore up its balance sheet, Reuters has reported. The Islamic lender has secured a five-year equity line of credit of up to $125m from Global Emerging Markets of New York (GEM). If Ithmaar draws the line, it will issue equity to GEM.
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StaffSunday, October 18 - 2009 at 10:10 UAE local time (GMT+4)
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