Alinma Bank announces results after five days of IPO

Saudi Arabia: Tuesday, April 15 - 2008 @ 14:41

After five days, the number of subscribers stood at 3,420,000 with the total value of shares purchased reaching approximately SR6,579,000,000, or nearly 63% of the value of the total share offering.

Over the course of the IPO’s first five days, 90% percent of investors used alternative means to purchase shares, with 57% of investors using ATMs, 18% using phone banking and 15% using the internet.

For its part, Alinma Bank said that transparency was one of the principles adopted jointly with Samba Capital during preparations for the IPO and that keeping the public informed about the IPO’s progress was a priority.

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Tuesday, April 15- 2008 @ 14:41 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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