Monday, Nov 28, 2011
BEIRUT (Zawya Dow Jones)--Bahrain Middle East Bank, or BMB, plans to increase its issued capital within three years to nearly $130 million from the current $54.95 million, Manama-based Al Wasat reports Monday, citing an executive.
BMB intends to raise $75 million of equity by issuing 300 million additional shares within the coming three years, Akbar Habib, the lender's chief executive, told the paper.
The bank has recently won deals to provide financial advisory services for acquisition operations of companies in the industrial sector--the energy and oil industries in particular, he told Al Wasat.
Newspaper website: http://www.alwasatnews.com/3369/news/read/611061/1.html
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
28-11-11 0715GMT
