Middle East Economic Survey
VOL. XLVIII
No 6
07-February-2005
SYRIA
Syria Arab Bank Launches S365Mn IPO
The Syria Arab Bank (Syria AB) is launching a S365mn ($7mn) initial public offering (IPO). The equivalent of 730,000 shares (24.33% of the banks start-up capital which amounts to S1.5bn or $28.9mn) will be offered to the Syrian public at a face value of S500 ($9.6) per share. Minimum subscription is 10 shares and in multiples of 10 thereof, while maximum subscription is 150,000 shares (5% of the...
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