NO. 22


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...