VOL. XL
No. 42
20-October-1997
LEBANON
Audi GDR Issue Raises $81Mn
Bank Audi successfully raised $81mn through its second offering of Global DepositaryReceipts (GDRs) in an issue that was four times over-subscribed, according to bankers. Themain tranche of 2.7mn GDRs was priced at $27 each on 13 October and a further 300,000shares, raising $8.1mn, were issued shortly afterwards as part of a green-shoe optionexercised to stabilize the shares in the after-market. The GDRs, which will be listed on...
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