AlBaraka Banking Group (ABG) is launching Initial Public Offering (IPO) aims to raise 580 million-dollar. The subscription will commence from May 27 through a network of over 117 receiving branches in Qatar, the UAE, Bahrain and Oman.
Ahmed Shuja Kidwai , Assistant General Manager, AlBaraka Islamic Bank said that the shares will be listed simultaneously on the Bahrain Stock Exchange and the Dubai International Financial Exchange.
The subscription rate of the shares will be 3.08 per share of the shares will be allowed to small investors and the remaining 80 percent will be allocated to major investors.