VOL. XLI

No. 05

2-February-1998

TUNISIA

Tunisia's BIAT Launches GDR Issue

Roadshows are underway in the US and Europe to launch Tunisia's Banque InternationaleArabe de Tunisie's (BIAT) long-awaited Global Depositary Receipts (GDRs) issue (MEES,10 November 1997). A total of 3.2mn GDRs, equivalent to 1.6mn shares - each GDR representsone-half of an ordinary share, with a nominal value of TD10 each ($8.7) - are beingoffered under regulation 144A in the US and Regulation S in Europe. No price for...