Bank Audi is seen in Beirut. (The Daily Star/Mahmoud Kheir)
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Bank Audi announced Tuesday that it has completed a $300 million capital increase by offering $240 million in common shares initially to existing shareholders (including GDR holders) of the bank and a $60 million subscription of common shares by International Finance Corporation ("IFC"), a member of the World Bank Group.With the new capital increase, Bank Audi's shareholders equity is now $3 billon. Over $25 million of Bank Audi shares were traded on the Beirut bourse Monday as part of efforts to raise the capital of the bank.Bank Audi's statement said $50 million in common shares were issued in the capital increase, as well as 149,528,847 warrants, representing approximately 10.0 percent of Odea Bank's common shares.
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