VOL. XLI
No. 23
8-June-1998
LEBANON
Solidere Postpones GDR Issue
The Lebanese equity market received a blow last week with the news that Solidere, theLebanese private sector company which is rebuilding central Beirut, has opted to postponea $65mn Global Depositary Receipt (GDR) issue. The company canceled the issue - to belead-managed by US investment bank Merrill Lynch - citing adverse market conditions afterroadshows in Europe and the US. No other date has been set for the launch and bankers...
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