VOL. XXXIX

No. 3

16-October-1995

LEBANON

Banque Audi Issues Arab World's First GDRs

Lebanon's Banque Audi has unveiled plans to issue global depository receipts (GDRs) worth $30-40mn to be listed on the Luxemburg Stock Exchange. Announcing the new instrument, the bank's Managing Director, Mr. Raymond Audi, said that the GDRs, the first by an Arab institution, will be marketed from the week starting on 9 October by Robert Fleming and will target non-Lebanese institutional investors. He...