The Maldives Islamic Bank (MIB) has decided to sell shares at a rate of MVR 35 starting July 28 until September 18.
This was announced at a press conference at Maagiri Hotel by the Managing Director of MIB, Mr. Abdul Muhaimin.
MIB further announced that they are selling MVR 244 million worth of shares. This is equivalent to 6,975,000 shares and adds up to 31% of the company.
This is further divided into 4.5 million shares belonging to the Islamic Bank and 2.4 million shares from Islamic Corporation of the Development of Private Sectors.
Members of the public can buy shares starting at a minimum of 20 shares. This is equivalent to MVR 700. More shares can be added by increments of 10.
Shares are sold from the branches at Male, Hulhumale, Addu City, Fuvahmulah, and Kulhudhuffushi, along with the Maldives Security Deposit as well.