Oversubscription of MIB shares while HDFC issues third corporate sukuk
Maldives Islamic Bank (MIB) has announced that its IPO of shares was successfully oversubscribed. A total of 6.98 million shares - 31% of the total number of shares - were open for the public and the price per share was MVR35 (US$2.24) of which the total will amount to MVR244.13 million (US$15.61 million). At the moment, the board of MIB is enacting a regulation to distribute shares to shareholders in a fair manner, giving preference to retail investors in accordance to what was mentioned in the prospectus.
Maldives Islamic Bank (MIB) , Shares , Sukuk , Maldives
Muneeza, Aishath. (2019). Oversubscription of MIB shares while HDFC issues third corporate sukuk. Islamic Finance News, 16 (40), pp. 18.