VOL. XXXV
NO. 19
10-FEBRUARY-1992
Financial and Banking News
Economic Policy
Riyad Bank Share Issue More than Four Times Oversubscribed
Riyad Bank's SR3.8bn ($1bn) public share flotation was more than four times oversubscribed, despite statements by some religious leaders that owning shares in interest-based banks is contrary to the tenets of Islam. When the issue closed on 29 January 690,000 applications had been made for a total of 26.2mn shares. Each share is priced at SR475 ($126). The total...
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