Citi Appointed Depositary for the Commercial Bank of Qatar's London Stock Exchange Listed GDR Program

15.08.08 - 09:44 ... source : Citigroup

... Citi today announced that Citibank, N.A. was appointed the depositary bank for the Commercial Bank of Qatar's (CBQ) global depositary receipt (GDR) offering listed on the London Stock Exchange (LSE). The GDR issue of nearly $700 million, originally priced at $7.50 per GDR, was the primary tranche of a total capital-raising of $900 million. CBQ is the State of Qatar's second-largest bank by assets, loans and deposits. This capital raise represents the second-largest GDR offering ever from the Middle East or Northern Africa. Citi's Depositary Receipt Services Group is a leader in bringing quality issuers to U.S. and global capital markets and promoting Depositary Receipts (DRs) as an effective means of financing. Citi will be providing the CBQ with the means to diversify their shareholder base and increase their liquidity. Andrew Stevens, Group CEO of Commercia ...» Next (HTML)