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Tue 1 May 2007 12:00 AM

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Billion dollar Qatar bank to open

Al Khaliji Bank in Qatar has launched a US$329.7m IPO as part of plans to raise $1 billion to establish a bank with operations across the GCC.

Al Khaliji Bank in Qatar has launched a US$329.7m IPO as part of plans to raise $1 billion to establish a bank with operations across the GCC.

The IPO ended on April 29 and constituted a 17% stake in the bank, divided into 120 million shares.

The bank will begin operations by the end of this year, and will offer retail, corporate and investment banking services.

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