VOL. XL

No. 34

25-August-1997

LEBANON

Banque Audi Plans $75Mn GDR Issue

The Beirut Stock Exchange (BSE) announced on 21 August that Banque Audi plans to issueGlobal Depository Receipts (GDR) to the value of $75mn, though no time-frame has beenindicated. The issue will be managed by the UK bank Robert Flemings, which also managedBanque Audi's previous issue when the bank became the first Arab institution to tap theGDR market in October 1995 (MEES, 16 and 30 October 1995). No indication was...