50% of Doha bank capital hike plan okayed

The extraordinary general meeting of Doha Bank on Wednesday approved the capital increase of 50 per cent two-stage plan.

The General Assembly approved increase 25 percent of the current paid-in capital by issuing 51, 674, 450 new shares to the existing shareholders of the Bank, enrolled at Doha's Qatar Exchange, at a price of QR30 per share represents a premium of QR20 next to a nominal value of QR10 per share.

Another 25 percent of the current paid-up equity capital would be increased through the issuance of new shares, in the form of depositary receipts shall be held by a strategic shareholder is the depositary bank, and the global depositary receipts to be listed on the London Stock Exchange.

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