Middle East Economic Survey

VOL. XLVIII

No 21

23-May-2005

SUDAN

Emirates And Sudan Bank To Offload 25% Equity Stake In IPO

Emirates and Sudan Bank (ESB), one of the biggest new Islamic financial institutions in Sudan, is to launch a Dh104.9mn ($28.5mn) initial public offering (IPO), representing 25% of the banks paid-up capital, according to local press reports. The 28.5mn shares will be offered at a face value of Dh3.68 ($1) each, and be open for subscription to all international investors for...