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
Capital plans: how Qatar's banks are shaping up

Capital plans: how Qatar's banks are shaping up

Ahli Bank chief executive Salah Murad says that despite competition...

The spectacular rise and fall of Arabtec

The spectacular rise and fall of Arabtec

The ups and downs of Dubai most heavily traded stock teaches...

1
MidEast investors eye $180bn overseas spending

MidEast investors eye $180bn overseas spending

Arab institutional investors have been buying up swathes of ...

Most Discussed