DUBAI Dec 29 Commercial Bank of Qatar
(CBQ) will open subscriptions for a 1.5 billion riyals ($412
million) rights issue on Jan. 8, the Gulf state's third-largest
lender by assets said on Thursday.
The subscription period for shareholders and holders of
subscription rights will run until 1 p.m. Doha time (1000 GMT)
on Jan. 22, the bank said in a statement.
CBQ got approval from shareholders at an extraordinary
general assembly on Nov. 16 to increase its capital by 18
percent through an offering of 58.8 million new shares at 25.5
CBQ shares closed 7.6 percent higher at 32.5 riyals on
The share offer will boost the bank's share capital to 3.85
billion riyals from 3.27 billion riyals, CBQ said.
The bank said last month that shareholders would be allowed
to buy one new share for every 5.5 held.
($1 = 3.6410 Qatar riyals)
(Reporting by Tom Arnold; editing by David Clarke)