Financial and Banking News
ABC Announces Flotation Plans For International Bank Of Asia
International Bank of Asia (IBA), the Hong Kong-based subsidiary of ArabBanking Corporation (ABC), will start its share issue on 20 October. The bank isoffering 25% of its existing shares for sale at HK$3.76 ($0.49) per share. Thisprice implies a price to earnings ratio of 1:13. The floated shares will belisted on the Hong Kong stock exchange. The offer will close...
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