Doha Bank says $426m rights issue 1.8 times oversubscribed

  • Share via facebook
  • Tweet this
  • Bookmark and Share
CEO Raghavan Seetharaman

CEO Raghavan Seetharaman

Doha Bank, Qatar’s fifth largest lender by market value, said its rights issue worth QAR1.55m (US$426m) was 1.8 times oversubscribed.

The offer, worth 25 percent of the bank’s existing share capital, was nearly twice oversubscribed during the offer period, the bank said in an emailed statement.

The issue is part of a two-part capital increase aimed at boosting share capital by 50 percent. The second part is an offer of global depositary receipts (GDRs) in London. GDRs will be priced at a minimum of 90 percent of the market share price on the date of issue.

JP Morgan will act as lead manager for the GDR issue, the bank's CEO Raghavan Seetharaman said in January.

Related:
Companies

Market Performance

Doha Bank
62.6
0.3 0.48 (%)
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
Finance talk with RAKBANK

Finance talk with RAKBANK

StartUp sat down with RAKBANK’s head of personal banking, Ian...

Tips from the top: Hisham Al Gurg

Tips from the top: Hisham Al Gurg

High profile investor and entrepreneur Hisham Al Gurg discusses...

1
The hubsters' ecosystem

The hubsters' ecosystem

Tamara Pupic visits Impact Hub Dubai, the first local branch...

Most Popular
Most Discussed