Now Reading
Bahrain’s Ahli United Says IFC Fund Buys 167m Shares

Bahrain’s Ahli United Says IFC Fund Buys 167m Shares

The lender said the shares were converted at a price of 74.8 US cents per share

Bahrain’s Ahli United Bank (AUB) said the International Finance Corp, the World Bank’s private sector arm, bought 167 million shares in the lender as part of conversion of its preference shares in the bank to equity.

The kingdom’s largest lender by market value said the shares were converted at a price of 74.8 U.S. cents per share, giving IFC a 2.95 per cent shareholding in the bank.

The conversion price represents a 10 per cent premium to the bank’s closing market price as of Oct. 10, Ahli United said in a bourse statement on Monday.

© 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top