Bank Audi increases capital by USD300m
Bank Audi announced Tuesday that it has completed a USD 300 million capital increase by offering USD 240 million in common shares initially to existing shareholders (including GDR holders) of the bank and a USD 60 million subscription of common shares by International Finance Corporation (“IFC”), a member of the World Bank Group.
MIDEAST STOCKS-Emaar lifts Dubai as malls unit IPO pricing nears
Emaar Properties, Dubai's largest listed developer, helped lift the emirate's market in early trade on Tuesday on hopes that it will float its malls unit at the upper and of the announced price range due to strong demand.
MIDEAST STOCKS-Emaar Malls IPO may temporarily siphon more money from Dubai
Dubai's bourse may remain soft on Wednesday as retail investors temporarily take money from the market in order to participate in the initial public offer of Emaar Malls Group (EMG), while Saudi Arabia and Egypt look more positive.