On 20/3/2018 Bank Audi’s board of directors has decided to redeem its 1,500,000 Preferred Shares “G” at the issuance price of $100. The operation was approved by Banque du Liban and all the preferred shares must be fully redeemed by 20/8/2018.
The secretary of the board of directors stated that the bank’s capital adequacy ratio will stay within the requirements of the IFRS despite the buyback of the preferred G shares as per the exercise they conducted on the bank’s financial statements of end 2017.
The last day of trading for Bank Audi’s preferred Shares “G” on the Beirut Stock Exchange will be 4 July 2018 and the buyback will officially start on or around 10 July 2018.
Performance of Bank Audi Preferred “G” Shares
Sources: Reuters , BSE