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Bahrain Middle East Bank's $60.5M rights offering 65.3% subscribed

The offering period for Bahrain Middle East Bank BSC's $60.5 million rights issue closed with 157,996,674 subscribed shares, representing about 65.3% of the 242,003,326 new shares it offered at an issue price of 25 U.S. cents apiece.

The subscribed shares will be allotted to the corresponding subscribers in full, the Bahraini lender said Dec. 27. The allotment date was set at Dec. 31, while the new shares will begin trading Jan. 9, 2018, the bank said Dec. 19.