20 Feb 2020 18:18
Bank Audi raises USD 210 Million in Common Equity
Beirut, February 20, 2020
The Extraordinary General Assembly of Shareholders of Bank Audi sal convened earlier today and approved USD denominated cash contributions, from the Bank's shareholders, in an amount of USD 210 million. The General Assembly also resolved to convert said cash contributions into ordinary shares of the Bank.
The aforementioned actions remain subject to the approval of the Central Bank of Lebanon and fall within the first phase of the increase of equity that was requested from all banks by the Central Bank of Lebanon.
The Board of Directors wishes to express its gratitude to the shareholders. Their eagerness to contribute, as evidenced by the sizable volume of cash contributions received, is a renewal of their valuable commitment to stand by the Bank in the prevailing circumstances that the country is going through.
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BQAD.L (BQAD)