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Islamic Finance Briefing - Categorized | Banking, Capital Market (Equity, Mutual Funds) more

QNB increasing capital by 25pct via rights issue

Posted on 31 January 2011

From Gulf-times.com: QNB, the country’s largest lender by assets, is increasing the capital by 25% through a rights issue to part fund its expansion and meet the proposed Basel III norms.

The rights issue, which will be on tap during the second quarter (April-June) of this year, has been priced at QR100 a share (including the QR90 premium), QNB chairman and Finance Minister HE Yousef Hussein Kamal said after the bank’s annual ordinary and extra-ordinary general assembly meeting which approved the 50% cash dividend and 30% bonus shares…………………………………….Full Article: Source

 
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