Al Salam Bank buys treasury shares

Dubai: Al Salam Bank said on Sunday it bought 35,000 treasury shares on the Bahrain bourse on January 3.

The bank, headquartered in Bahrain, said it increased the total treasury holdings to 37.84 million shares from 37.81 million shares. This would mean that the bank now holds 1.768 per cent of the treasury shares.

The bank has a paid-up capital of $318 million and was the largest Initial Public Offering (IPO) in the Kingdom’s history with subscriptions reaching over $7 billion.