Bahrain's Ahli United says IFC fund buys 167m shares

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Bahrain's Ahli United Bank (AUB) said the International Finance Corp, the World Bank's private sector arm, bought 167 million shares in the lender as part of conversion of its preference shares in the bank to equity.

The kingdom's largest lender by market value said the shares were converted at a price of 74.8 U.S. cents per share, giving IFC a 2.95 percent shareholding in the bank.

The conversion price represents a 10 percent premium to the bank's closing market price as of Oct. 10, Ahli United said in a bourse statement on Monday.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Shuttered banks, ATM queues and $77 daily limits: Greece plunges into crisis

Shuttered banks, ATM queues and $77 daily limits: Greece plunges into crisis

Breakdown in talks between Athens and its creditors plunged the...

Malaysia fund's $4.5bn rescue may weigh on Abu Dhabi's IPIC

Malaysia fund's $4.5bn rescue may weigh on Abu Dhabi's IPIC

International Petroleum Investment Co came to the aid of Malaysia...

Debt market beckons as Saudi bourse opens to foreigners

Debt market beckons as Saudi bourse opens to foreigners

Corporate bond issuance in the kingdom is the most active in...

Most Popular
Most Discussed