Financial and Banking News
Al-Rajhi Offer Oversubscribed 7.6 Times
According to officials at Al-Rajhi Banking and Investment Corporation (ARBIC),the share offer for 43% of its equity closed last week with an oversubscription7.6 times the SR322.5mn offered. Deposits by potential subscribers worthSR2.45bn are with ARBIC (72.16%), Arab National Bank (16.11%), and al-Bankal-Saudi al-Fransi (11.73%). ARBIC plans to finalize share allocations accordingto a...