CIB In Third Arab GDR Issue
The second largest private sector bank in Egypt, Commercial International Bank (CIB), has announced that it is to launch an issue of Global Depositary Receipts (GDR) worth a reported 20% of shareholders' equity. The details of the issue have not yet been announced, and the arranger of the issue on CIB's behalf has not yet been decided. CIB's issue follows the lead of the Lebanese Banque 'Audi, which raised $34mn in...
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