Financial and Banking News
Bank al-Jazira Share Issue Oversubscribed
The share issue by Jiddah-based Bank al-Jazira was between six and 10 timesoversubscribed, according to the local Consulting Center for Finance andInvestment (CCFI). The bank is quadrupling its capital to SR400mn ($107mn) fromSR100mn ($27mn). The issue closed on 29 September. The bank's Managing Director,Shaikh Hamad al-Sa'ad al-Sulaiman, said that 200,000 applicants paid about...