The issue offered to the public which included a retail tranche and a wholesale tranche both amounting to approximately US$ 235 million was oversubscribed by more than 3 times.
The Bank is satisfied with the allotment strategy it has devised as it ensured that retail investors were able to obtain full allotment for their subscription as the retail tranche would not be affected by the oversubscription in the wholesale tranche.
Details of the IPO will be announced on 26 March 2006 being the allotment date.
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Ithmaar Bank IPO oversubscribed by three times
- Bahrain: Sunday, March 19 - 2006 at 11:29
- PRESS RELEASE
Ithmaar Bank (the 'Bank') is pleased to announce that it has raised close to USD 900 million while undertaking a capital increase through a private placement and subsequently its initial public offering ('IPO') which closed on 12 March 2006.
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Posted by Anne-Birte Stensgaard, Senior News EditorSunday, March 19 - 2006 at 11:29 UAE local time (GMT+4)
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This article was updated on Sun Sep 24 2006.
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