Financial and Banking News
Saudi French Bank Share Flotation Highly Oversubscribed
Riyadh-based Al-Bank al-Saudi al-Fransi has announced that a public shareflotation which opened on 5 December and closed on 14 December has beenoversubscribed by as much as 10 times. The bank had sought to raise SR1,140mn($304mn) by issuing 2mn new shares each worth SR570. The issue is part of a planthat will enable Al-Fransi to increase paid-in capital to SR900mn...