BBK is appointed as a financial services partner in one of largest upcoming IPOs

Ithmaar Bank (B.S.C), one of the leading Bahrain-based investment banks, announced its partnership with BBK as a financial service provider for its upcoming Initial Public Offering (IPO), after receiving unprecedented interest in underwriting from GCC institutions.

BBK's selection comes as a result of its experience in handling IPOs and extensive network of 17 local branches, as well as a branch in Kuwait. This network is further strengthened by BBK's Contact Center, which is a unique service offered by the Bank to its customers.

BBK was recently selected as a receiving bank for the Al Salam Bank IPO, which was announced in the first week of February. The Bank also successfully oversaw the Al Banader Hotels IPO in late 2005.

Mr Jamal Hijris, Assistant General Manager - Retail Banking - BBK, said "BBK's experience in such products has generated increasing interest from our customers.

"We continue to diversify our portfolio with high-value products and services that are in line with regional trends. Our partnership with Ithmaar Bank represents another significant move in our efforts to provide rewarding opportunities and excellence in customer service to our clients."

The Ithmaar IPO, which was pre-announced in December 2005, will offer 150,000,000 shares at a price of US$2.25 (BD0.8505) per share with a minimum of 2000 shares and multiples of 1000 shares thereafter.