Bahrain’s Eskan Bank has successfully acquired 18,084,542 units, equivalent to 9.1%, in the Eskan Bank Realty Income Trust (EBRIT) as part of a two-tranche transaction. The bank initially extended a voluntary partial offer in May, aiming to purchase up to 50,000 units from each unit holder at 0.100 Bahraini dinar ($0.27) per unit in Tranche 1, and up to 1,200,000 units at BD 0.060 per unit in Tranche 2. In total, the offer was extended to acquire up to 34,710,831 units. The units accepted in the initial offering will be transferred to Eskan Bank, with settlement to unitholders completed by 11 July 2024. The Secondary Offer is set to close on 31 July 2024.

Real Estate, Banking and Financial Services,Bahrain

https://www.zawya.com/en/markets/equities/bahrains-eskan-bank-acquires-more-than-18mln-ebrit-units-in-voluntary-offering-clpheesv