The initial public offer ( IPO ) for 26% totaling 780.000 shares of the Bank’s Capital took place during September 2006 and was successfully subscribed by private Syrian investors with 250% coverage, one of the highest coverage yet in the Syrian banking sector.
On 27/11/2006 the Extraordinary General Assembly of SGB was held and resolved to increase the capital to Three Billions Syrian Pounds.
Currently, we are in the process of acquiring the necessary approvals from the concerned authorities to complete the procedure to increase our capital .As soon as the approval is granted we will announce the IPO subscription according to the Syrian law and regulations.
Board of Directors:
The Board of Directors was elected by the shareholders at the first General Assembly which was held on 04/11/ 2006.
Mr. Issam Nashawati , General Manager of the bank was appointed by the Board during the first board meeting on 04/11/2006.
