Trading in the bank’s shares will commence on December 22 at a price of $13 per share, the DSE said.

BBS is the seventh bank and the twelfth company to get a similar approval. It is also be the fourth affiliate of a local bank to get listed on the DSE.

Audi Bank, Blom Bank, and Bank Bemo, all have Syrian subsidiaries that are listed on the DSE.

BBS successfully completed its IPO which was 15 times oversubscribed in July-August 2005. It has a capital of $40 million. 

Other shareholders in BBS include the Organization of Petroleum Exporting Countries (OPEC) with a 7.5 stake and Syrian investors who hold the remaining stake.