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Commercial Bank to launch rights issue Jan. 8

Commercial Bank (Q.S.C.) on Dec. 29 said the subscription period for its approximately 1.5 billion rial rights issue will run from Jan. 8, 2017, to Jan. 22, 2017.

The lender is offering 58,823,529 new ordinary shares for subscription at a price of 25.50 rials per share. Following the capital hike, the bank will increase its issued share capital to 3.85 billion rials from 3.27 billion rials.

The rights issue price comprises a nominal value of 10 rials per share and a share premium of 15.5 rials per share.

As of Dec. 29, US$1 was equivalent to 3.64 Qatari rials.