Arab Today, arab today qatar\s doha bank to launch 426m local rights issue
Last Updated : GMT 19:18:40
Arab Today, arab today
Arab Today, arab today

Qatar\'s Doha Bank to launch $426m local rights issue

Arab Today, arab today

Arab Today, arab today Qatar\'s Doha Bank to launch $426m local rights issue

Doha - QNA

Qatar\'s Doha Bank will launch the first phase of a two-part capital increase, a QAR1.55bn (US$425.7m) rights issue to local investors, on February 28, the lender said on Thursday. Capital levels at Qatar\'s fifth-largest bank by market value are lower than its Qatari peers and proceeds from the issue are expected to be used mainly to plug that shortfall. The issue, which is equivalent to 50 percent of its total shares, will be split equally between a local offering and global depositary receipts (GDRs) in London. The first stage will be an offering of 51.7m new shares to current stockholders which will begin on February 28 and run until March 13, Doha Bank said in statement after shareholders approved the move.

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Arab Today, arab today qatar\s doha bank to launch 426m local rights issue Arab Today, arab today qatar\s doha bank to launch 426m local rights issue

 



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