VOL. XXXIX

No. 5

30-October-1995

LEBANON

Banque Audi's GDRs Issue Raises $34Mn

The issue of global depository receipts (GDRs) by Lebanon's Banque Audi, which closed on 23 October, was 100% oversubscribed, a senior bank official said last week. The GDRs issue, which raised $34mn, attracted subscriptions of between $60-70mn, the official told Reuters on 23 October. The GDRs, the first by an Arab institution, were marketed by Robert Fleming, attracting subscriptions from institutions in...