Audi raises Capital

Bank’s capital at $304 million through a new preferred shares issuing

Bank Audi’s extraordinary general assembly, held on April 10, agreed to increase the Bank’s capital to $304.8 million from $303.6 million through the issuance of 1.5 million new perpetual redeemable preferred shares.

The new Bank Audi Series ‘F’ preferred shares will be issued at their nominal value of LL1,254 ($0.836) each, plus an issue premium. The shares will be listed on the Beirut Stock Exchange.

Holders of Series ‘D’ and Series ‘E’ preferred shares will have the right to subscribe to the issue of Series F preferred shares, on a priority basis.

Reported by Hanadi Chami