VOL. XLI

No. 07

16-February-1998

TUNISIA

BIAT GDR Issue Raises $40Mn

Merrill Lynch, co-lead manager with the International Finance Corporation (IFC) ofTunisia's Banque Internationale Arabe de Tunisie's (BIAT) Global Depositary Receipts(GDRs) issue (MEES, 2 February), said that a total of $40mn was successfully raisedon 11 February at $12.50 per GDR. A total of 3.2mn GDRs - each representing one-half of anordinary share, with a nominal value of TD10 each ($8.7) - was sold. BIAT shares were...