VOL. XXXVIII
NO. 22
27-FEBRUARY-1995
Financial and Banking News
Regional Banking
Al-Rashid Group Takes 90% Of Bank Al-Jazira's Capital Increase
Ninety percent of Bank al-Jazira's SR450mn ($120mn) share offer has beenretained by the al-Rashid group after shareholders shied away from the issue,which many consider to have been overpriced. The shares were offered to existingstockholders at SR225 at a time when the market price was around SR180. Al-Rashidacted as underwriter, and some independent...
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