IFC completes AUB debt conversion

02/12/2014 06:57 AST

The International Finance Corporation (IFC) has completed the conversion of $100 million subordinated debt advanced to Bahrain-based Ahli United Bank (AUB) into ordinary shares in the bank.

The debt has been converted into 118,609,884 shares at a conversion price of 84.31 cents per share.

Post conversion, IFC along with the IFC Capitalisation Fund, hold a 5.16 per cent shareholding in AUB.

The subordinated debt facility was convertible only at the option of IFC.

Accordingly, its decision to exercise the conversion option represents a vote of confidence in AUB's strong underlying financial and operational fundamentals and in its positive future outlook, AUB chairman Fahad Al Rajaan said.

This follows the IFC Capitalisation Fund's accelerated conversion of its Mandatory Convertible Preference Shares in October 2013.

It is a continuation and reinforcement of the strong and multi-faceted relationship between AUB and IFC in Bahrain, Egypt and Oman.

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector.

The corporation has $38bn in debt and equity exposures globally.


Gulf Daily News

News

Ahli United Bank’s AGM approves 18% dividend

30/03/2018

Ahli United Bank said on Thursday the shareholders have approved the 18 per cent cash dividend at its Annual General Meeting (AGM). The dividend amounts to $341.6 million (Dh1,257 million), together

Gulf News

Tamkeen, AUB sign $106m deal to support Bahrain firms

14/03/2018

Bahrain's labour fund Tamkeen and Ahli United Bank (AUB) have signed a BD40-million ($106.08 million) portfolio to provide subsidised financing to eligible medium and large-sized enterprises in Bahra

Trade Arabia

Ahli United Bank reports US$ 618.7 million net profit for 2017

21/02/2018

Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 618.7 million for the year 2017, representing a growth of 8.4% as compared to a net profit of US$ 57

Biz Bahrain

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683

Valuation

AUB Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
NBB 0.61 0.00 (0.00%)
BBK 0.44 0.00 (0.00%)
SALAM 0.12 0.00 (0.00%)
BISB 0.12 0.00 (0.00%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap