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    <title>Al Rajhi seeks Kuwait entry</title>
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    <pubDate>Mon, 31 Dec 2007 15:19:28 +0400</pubDate>
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        Sheikh Salem Abdul Aziz Al Sabah, the Governor of Kuwait's Central Bank, has revealed Saudi Arabia's Al Rajhi Bank wants to open a branch in the country, reported Reuters citing the Al Hayat newspaper. Al Sabah said the lender was due to submit documents in order to show it meets the necessary requirements for operating in Kuwait. Al Sabah added no other Saudi bank had applied for a licence.
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    <title>EFG-Hermes targets maize firm</title>
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    <pubDate>Mon, 31 Dec 2007 14:39:32 +0400</pubDate>
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        An investment fund run by Egyptian lender EFG-Hermes is hoping to acquire around 31.6% of the National Company for Maize Products, in a deal worth $31.5m, reported Reuters. A price of 25 Egyptian pounds has been offered by the Horus III Fund and this is substantially higher than the last traded price of 9.6 Egyptian pounds. The National Bank of Development would sell most of the stake to EFG-Hermes.
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    <title>Sabic offers bonus shares</title>
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    <pubDate>Mon, 31 Dec 2007 07:27:47 +0400</pubDate>
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        The Saudi Basic Industries Corporation (Sabic) plans to offer its shareholders one free share for every five currently held, according to Bloomberg. The move will increase its number of shares from 2.5bn to 3bn and will raise its share capital to around $8bn. The firm will also pay a dividend of SR2, or $0.5, per share for H2 2007.
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    <title>Bahrainis eye BBK stake</title>
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    <pubDate>Sun, 30 Dec 2007 16:36:56 +0400</pubDate>
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        Investors from Bahrain are looking to acquire a sizeable holding in the Bank of Bahrain and Kuwait (BBK) from Kuwaiti owners for around 535 fils per share, reported Reuters citing Kuwait's Al Watan newspaper. The paper did not name the possible investors but said the Kuwaiti shareholders had shown no desire to sell their stake. Al Watan also suggested Kuwait's Zumorroda Investment wanted to hike its own holding to 35%.
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    <title>NBK share sale oversubscribed</title>
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    <pubDate>Sun, 30 Dec 2007 08:33:46 +0400</pubDate>
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        The National Bank of Kuwait (NBK) has revealed that its $1.5bn share sale, which ended on December 26, was 145% oversubscribed, reported Reuters. The NBK received subscriptions totalling $3.7bn from its existing shareholders. The 20% capital increase was sanctioned in September to help pay for its purchase of Egypt's Al Watany Bank alongside a 40% stake in Istanbul's Turkish Bank.
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