BLOM Launches Largest Lebanese GDR Issue To Date
Lebanon's largest bank in terms of assets and deposits, Banque du Liban et d'Outre-Mer(BLOM), on 21 January successfully issued 3.73mn GDRs at $33 each to raise $123mn in whatis the largest equity placement out of Lebanon to date. The issue, to be listed on theLuxembourg Stock Exchange, was 10 times oversubscribed, according to lead manager MerrillLynch, prompting the exercise of a green-shoe option to sell...
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