The pricing of Maldives Islamic Bank shares and listing on Maldives Stock Exchange
In a news conference held by Maldives Islamic Bank (MIB) on the 30th June 2019, it was announced that MIB is going public and its IPO will begin on the 28th July 2019 and close on the 18th September 2019. The price per share will be MVR35 (US$2.21). The main aim of this IPO, according to the new managing director of MIB, is to increase the participation of locals (Maldivians) in the ownership of MIB. The total targeted amount to be raised via the IPO is MVR244 million (US$15.41 million). MIB is selling 31% of its shares equivalent to 6.98 million shares.
Maldives stock exchange , Islamic finance , Maldives
Muneeza, Aishath. (2019). The pricing of Maldives Islamic Bank shares and listing on Maldives Stock Exchange. Islamic Finance News, (July 2019), pp. 19.