Middle East Economic Survey

VOL. XLIX

No 7

13-February-2006

QATAR

Al-Rayan Bank IPO Raises In Excess Of $3.9Bn

Al-Rayan Banks initial public offering (IPO) closed over six times oversubscribed on 29 January, raising more than QR14.2bn ($3.9bn). The IPO opened on 15 January and was managed by Qatar National Bank (QNB). On offer were 412,500,000 shares (or 55% of the banks capital which stands at QR7.5bn $2.06bn) at QR10 ($2.75) per share (MEES, 16 January). A segment of 330mn shares was open for...