Arab Today, arab today doha bank may raise 14b in equity for expansion
Last Updated : GMT 22:15:37
Arab Today, arab today
Arab Today, arab today

Doha Bank may raise $1.4b in equity for expansion

Arab Today, arab today

Arab Today, arab today Doha Bank may raise $1.4b in equity for expansion

Doha - Arabstoday

Doha Bank may raise as much as 5.1 billion riyals ($1.4 billion) from selling shares as it seeks to boost lending and expand in foreign markets. Doha Bank will raise the money in the first quarter of 2013 and needs shareholder approval for the 50 per cent capital increase, the lender said. Details of the plan will be announced later, the bank said on Wednesday in a statement to the Qatari bourse. The capital increase will help the bank participate in the country’s “major infrastructure” projects and expand overseas, including opening a branch in Abu Dhabi in the next two months, Chief Executive Officer Raghavan Seetharaman told reporters in Doha. The increase will also help the bank meet capital requirements under Basel III rules, he said. Bank lending in the Gulf country, the world’s biggest exporter of liquefied natural gas, surged 38 per cent in the 12 months through July as banks helped fund $130 billion of planned spending on building projects ahead of the 2022 soccer World Cup. Qatari banks are also expanding overseas to beat limited growth in a country of 1.7 million people. Doha Bank shares rose 0.7 per cent to 56.4 riyals at 11:23am. in Doha, valuing the bank at 11.7 billion riyals. Doha Bank may raise 5.81 billion riyals if it raises half its current market value at no discount and 4.1 billion riyals if it sells shares at a 30 per cent discount, according to Jaap Meijer, a director for equity research at Dubai-based Arqaam Capital Ltd., who has a hold rating on the stock. The fundraising will boost Doha Bank’s core tier-1 equity to 19.2 per cent at the end of 2013 at the current market price from 9.6 per cent now, he said. From gulftoday

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today doha bank may raise 14b in equity for expansion Arab Today, arab today doha bank may raise 14b in equity for expansion

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today doha bank may raise 14b in equity for expansion Arab Today, arab today doha bank may raise 14b in equity for expansion

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday