Watania to launch USD22.45m IPO

12 Apr 2011

(MENAFN) Watania’s Founders Commitee Chairman, Arif Esmail Al Khoury, said that the Sharia compliant insurance company would participate in an initial public offering on fifty five percent of the company’s share capital to collect USD22.45 million, reported Gulf News.

Al Khoury added that the share offer price would be USD 0.27plus USD 0.01 as subscription fee for each share, and subscription date starts April 18th till May 1st, 2011.

Reports showed that IPOs offer opportunities to the region’s markets as they attract new investments.

It is worth noting that Watania founders subscripted in 45 percent of the company’s share capital.

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