VOL. XXXIX

No. 43

22-July-1996

EGYPT

GDR Issue For CIB Priced At $11.875

The global depositary receipt (GDR) issue on behalf of Egypt's Commercial International Bank (CIB) was priced at $11.875, according to CIB and ING Barings, the global coordinator of the $120mn issue - the largest in the Arab world so far. In a statement the banks said that "approximately 40% of demand came from UK institutions, 10% from continental European institutions, 40% from US institutions, 8% from the...