Bahrain-based International Investment Bank (IIB) will raise more than $57 million by selling 57 million shares.

Of the 57 million shares, the bank will sell 27 million to its shareholders for $1.8 each and the rest to Bahraini and Gulf nationals for $2.2 in addition to three per cent fees, said a report in our sister publication Akhbar Al Khaleej.

Subscriptions will conclude before the end of this year, the bank's executive president Aabed Al Zeera said. -TradeArabia News Service