Doha: The Chairman of Doha Bank Sheikh Fahad bin Mohammed bin Jabor Al Thani (pictured) announced that the bank has obtained approval from the regulatory authorities to list 51,674,450 new shares at Qatar Exchange.
These new shares have been issued to Doha Bank’s existing shareholders registered at QE at the close of business on February 19 during the period from February 28 till March 13 at a price of QR30 per share representing a premium of QR20 in addition to a nominal value of QR10 per share.
He also stated that these shares were oversubscribed to the tune of 93,610,520 shares which is equivalent to 45.3 percent of the total shares capital and comprising 1.8 times the total shares offered for subscription.
The chairman said the allotment ratio reached around 4.83 percent and the subscription of right shares reached to 49,546,536 shares out of 51,674,450 shares.
He also said the shares available for allotment reached 2,127,914 and the bank has automatically allotted 25 percent of the current owned shares by the shareholder “Rights” and allotted the unsubscribed right shares among the subscribers on a pro rata basis.
He also added that the bank has already approached QE to list the new shares and will refund the excess amounts to the respective shareholders who have oversubscribed their priority rights as of April 9.The Peninsula
