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The local Jawad Business Group (JBG) launched an initial public offering (IPO) of 10 million shares in its retail subsidiary Jawad International Fashion (JIF) on 19 December. The shares will be listed on the Bahrain Stock Exchange. Individual investors of all nationalities can apply for a minimum of 100 shares at BD 1.10 ($2.90) and institutional investors for not less than 5,000. Maximum share subscription is 100,000.