Doha Bank Obtains the Required Approvals of the Competent Regulatory Authorities to List the Additional New Shares
H.E. Sheikh Fahad Bin Mohammad Bin Jabor Al Thani, Chairman of Doha Bank, announced that the bank has obtained the required approvals of the competent 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 Qatar Exchange at the close of business on 19th of February 2013 during the period from 28th of February 2013 till 13th of March 2013 at a price of QR. 30 per share representing a premium of QR. 20 in addition to a nominal value of QR. 10 per share. He also stated that these shares were oversubscribed to the tune of 93,610,520 shares which is equivalent to 45.3% of the total shares capital and comprising 1.8 times the total shares offered for subscription.
H.E. the Chairman stated that the allotment ratio reached around 4.83% and the subscription of right shares reached to 49,546,536 shares out of 51,674,450 shares.
He also said that the shares available for allotment reached to 2,127,914 shares and the bank has automatically allotted 25% of the current owned shares by the shareholder “Rights” and allotted the unsubscribed right shares among the subscribers on a pro rata basis.
H.E. also added that the bank has already approached Qatar Exchange to list the new shares and will refund the excess amounts to the respective shareholders who have oversubscribed their priority rights as of Tuesday, the 9th of April 2013.
Finally, H.E. Sheikh Fahad Bin Mohammad Bin Jabor Al Thani thanked the shareholders for their profound confidence in Doha Bank and also thanked all the officials of Qatar Central Bank, Ministry of Business and Trade, Qatar Financial Markets Authority and Qatar Exchange for their cooperation and support to the bank. H.E asserted that the capital increase will not only strengthen the bank’s lending capacity and improve its competitive edge, but it will also help the bank to improve its performance and achieve its strategic goals at the local, regional and global levels in the coming years.