Qatar National Bank launches IPO

by This email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 01 July 2009

BANK EQUITY: The IPO will open to subscribers from July 12 with the subscription ending August 10. (Getty Images)

Qatar National Bank – Syria (QNB-Syria) on Tuesday announced the launch of 34 percent of its total equity in an Initial Public Offering (IPO).

The IPO will open to subscribers from July 12 with the subscription ending August 10.

QNB, Qatar’s largest bank in terms of assets, received approval last year to establish QNB-Syria as a private stock company.

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QNB-Syria is expected to start operations in the fourth quarter of this year, offering a range of products including retail and wealth management. The bank will be headquartered in Damascus.