FIMBank p.l.c. announced that its Bond Issue which opened on 23 April closed after 90 minutes due to over-subscription. Applications in excess of the over-allotment limit of €30 million were received.
In remarks to the Annual General Meeting of Shareholders which was convened in the evening, Mr Najeeb H M Al-Saleh, Chairman of the FIMBank Group, expressed satisfaction that the investment interest came from a cross-section of personal, corporate and institutional investors, big and small, with the majority of them being totally new to the Group. Mr Al-Saleh said that this was not just a vote of confidence in the Bond Issue but in FIMBank’s business model and strategy, because the aim in issuing the Bonds was not to replenish any lost capital or to plug some hole in the financial performance, but to support the further growth and expansion of the Group.
The basis of acceptance and allocation policy will be announced in the coming days. The information will also be available on the Issuer’s website www.fimbank.com. FIMBank p.l.c. thanks all those who contributed to the success of the Bond Issue, and the investors for their trust in the Group.