Doha – Mubasher: Commercial Bank of Qatar (CBQ) said shareholders registered at Qatar Central Securities Depository (QCSD) as at close of trading on 8 December 2016 have the priority right to subscribe to the capital increase.
The prospectus for the rights issue will be disclosed following approval from the relevant authorities.
The bank’s extraordinary general meeting (EGM) on 16 November resolved to increase the issued share capital from QAR 3.26 billion to QAR 3.85 billion by offering 58,823,529 new ordinary shares for subscription at a price of QAR 25.50, with QAR 10 nominal value and QAR 15.50 issue premium.
CBQ’s stock rose 3.5% to QAR 34.15 by 9:52am Qatar time after generating QAR 943,220 from the exchange of 27,720 shares.
