Bahrain's Al Salam Bank to issue new shares as part of BMI merger | Reuters:
"Shareholders in Bahrain's Al Salam Bank have approved a plan to raise the bank's capital by 100 million dinars ($265 million) by issuing new shares as part of a merger with fellow Bahraini lender BMI Bank, Al Salam said on Wednesday.
Shareholders also approved the acquisition of all of BMI's 58.5 million shares through a share swap in exchange for 643.8 million shares in Al Salam, it added.
The new shares would be offered to BMI shareholders at a rate of 11 for each BMI share to create the kingdom's fourth-largest commercial bank."
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