VOL.XXXIXNo. 6416-December-1996LEBANON

LebaneseBLC In $40Mn GDR IssueBanque Libanaise pour le Commerce (BLC) has successfullyexecuted a simultaneous issue of global depositary receipts (GDR) and sharesworth a total of $60mn - $40mn in the form of depositaryreceipts (DR) and $20mn by placement of sharesdomestically (MEES, 4 November). The wholeissue, according to the bank, was 3.5 times oversubscribed - the DRs beingpriced at $11.80 each and the shares at $11.20. Theinternational issue was...