Bank

Issue 1.26 oversubscribed

PUBLISHED : Monday, 30 March, 1998, 12:00am
UPDATED : Monday, 30 March, 1998, 12:00am

International Bank of Asia says its rights issue to raise $799.2 million has received applications 1.26 times the rights shares on offer. The bank's two major shareholders - Arab Banking Corp and China Everbright Holdings - will have their shareholdings unchanged at 55 per cent and 20 per cent, respectively, after applying for their full entitlements.