Financial and Banking News
ABC Finalizes Private Placement Of International Bank Of Asia
Arab Banking Corporation (ABC) is to sell 20% of International Bank of Asia(IBA), its wholly-owned Hong Kong subsidiary, to the Everbright Group, whichis based in Hong Kong and China. The sale is subject to approval by the MonetaryAuthority of Hong Kong for Everbright to become a controlling majorityshareholder. ABC hopes to sell a further 25% of IBA in a...