VOL. XLVII

No 18

03-May-2004

REGIONAL BANKING

Bubiyan Bank Shares On Sale To Kuwaiti Nationals

Shares in the newly-formed Bubiyan Bank went on sale to Kuwaiti nationals and companies on 26 April in what is the largest flotation seen by the country. The subscription will continue until 20 May and involve the sale of 760mn shares worth $261mn, representing 76% of the Islamic banks equity. The shares can be owned by non-Kuwaitis when the bank lists on the stock exchange a year after its setup,...