Qatar bank seeks 81% stake in UK Islamic lender

29 July 2010

Qatar International Islamic Bank has said it plans to raise its 11.2% stake significantly in Islamic Bank of Britain by offering to buy new shares, Reuters has reported. On Tuesday, IBB announced plans to raise £20m through the placement of new shares priced at 1 pence per share to QIIB. Following the shares placement, the Qatari lender will be an 81% shareholder in IBB. The increase is subject to regulatory approval and shareholders of the Islamic Bank of Britain, it said in a statement.

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