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Offering the shares of the Islamic Bank Al-Safa for IPO

2016-05-17

Palestine Capital Market Authority PCMA approved the prospectus of offering the shares of Islamic Bank Al-Safa- the new Islamic bank in Palestine- by an amount of 38,045,000 shares for Initial Public Offering IPO. Issuance price is $1 per share to be paid fully. The bank will be the third Islamic bank in Palestine after Palestine Islamic Bank ISBK and the Arab Islamic Bank AIB. It is good to note that the Islamic Bank Al-Safa has an authorized capital of $75,000,000 divided to 75,000,000 shares with $1 par value per share. While the founders subscribed to a total of 36,955,000 shares and have paid 100% of their contribution value. PCMA noted that the subscription will take place in the coming days with a minimum subscription amount of 500 shares for each application through Cairo-Amman Bank branches in Palestine.


 

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