Financial and Banking News
Bank al-Jazira Launches New Rights Offer
Jiddah-based Bank al-Jazira opened its SR450mn ($120mn) rights issue on 28December. It is expected to close around 11 January. The bank is offering twomillion shares at a price of SR225 each. Of the total raised, SR200mn will beused to increase the capital to SR600mn and the remainder will go to reserves.National Bank of Pakistan, which currently has an 8.75% stake, will not take...