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Barwa Bank announces distribution of allocation notices and refunds for its successful Rights Issue

Barwa Bank announces distribution of allocation notices and refunds for its successful Rights Issue

Doha 15 January, 2012 – Barwa Bank, the fastest growing bank in Qatar, announced today the distribution of allocation notices and refund payments for its Rights Issue which was successfully completed by 29 December 2011 with a 113% coverage.

The offering comprised 109,130,900 new shares for subscription, offered to shareholders on the register at close-of-business on October 24, 2011 and was intended to raise QR 1.7 bn. The overall value of shares subscribed reached QR 1.9bn, an over subscription of QR 233mn.

Commenting, Mr. Talal Al-Khaja, Head of Investor and Shareholder Relations at Barwa Bank said: "Following the successful rights issue with 113% coverage, we have completed the new shareholders list and shares allocation. Allocation notices have been mailed to shareholders mail boxes and money refunds have also been completed"

Barwa Bank shareholders will receive refunds through one of the following channels;

  • Shareholders who subscribed through bank cheques will receive a refund cheque with an allocation notice by registered mail.
  • Shareholders who subsribed through bank transfer will receive the refunds through bank transfer to the account mentioned in the registration form.

"To ensure a smooth allocation and refund process, Investor and Shareholder Relations Department have informed shareholders of the allocation and refund through sending SMS to their mobile phones. Shareholders are welcome to contact the department through telephone, fax and email at all times" added Mr. Al Khaja.

Barwa Bank’s Investor and Shareholder Relations Department has a dedicated hotline to answer all inquiries by shareholders during the bank's working hours on +974 44488777 or through fax on +974 44488676 or through email address investor@barwabank.com

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