MANAMA, 18 November 2007 — BBK has successfully completed the BD50 million rights offering and invited shareholders to receive their share certificates and refund checks.
The date for the rights entitlement will be on Oct.11, 2007. The bank earlier announced that it would issue 100,000,000 new ordinary shares at BD0.500 each on a rights privileged subscription. The proceeds from the issue, the bank said, will be used to finance the bank’s growth strategy as envisaged in its current corporate strategic plan.
The additional capital would also reinforce the bank’s position in relation to Basle II capital requirements. The bank had appointed Securities and Investment Company (SICO) as the issue manager, Hatim S Zu’bi and Partners as the legal advisor and KPMG Fakhro as the registrar for the rights issue.
The bank invited its shareholders who have subscribed to its rights offering to collect their new share certificates.