By Devika Patel
Knoxville, Tenn., Nov. 26 - Islamic Bank of Britain plc said it arranged a £7.49 million private placement of stock.
The company will sell 127.47 million ordinary shares at 5.875p per share.
Proceeds will be used as working capital.
Islamic Bank of Britain is a Birmingham, England-based retail bank.
| Issuer: | Islamic Bank of Britain plc
|
| Issue: | Ordinary shares
|
| Amount: | £7,488,862.50
|
| Shares: | 127.47 million
|
| Price: | 5.875p
|
| Warrants: | No
|
| Announcement date: | Nov. 26
|
| Stock symbol: | London: IBB
|
| Stock price: | 6.38p at close Nov. 26
|
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