Middle East Economic Survey
Albaraka Banking Group Launches $580Mn Islamic Banking IPO
Albaraka Banking Group (ABG) announced on 23 May the launch of its forthcoming initial public offering (IPO) with an anticipated value of $580mn. The shares will be sold at $3.08 per share, with 20% of them allocated to small investors and the remaining 80% to major investors. The IPO will be open for public subscription by individual, corporate and government investors in the...