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The blast occurred as the victims were trying to retrieve fuel that was leaking from the truck
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Bahrain’s TAIB Bank mulls selling controlling stake
MANAMA - Bahrain-based TAIB Bank said on Thursday it is considering to sell a controlling stake to an unnamed investor and has asked the bourse to suspend trading in its shares.
“TAIB Bank ... is contemplating the sale of a controlling interest in the bank to a strategic investor, subject to the formal approval of the Central Bank,” TAIB said in a statement issued after the close of trading.
The bank said that it had asked the bourse that its stock be suspended until further notice. It gave no further details.
Shares of TAIB, with a market capitalisation of $171.2 million according to Reuters data, last traded at $1.60 on May 14, near a year high of $1.62 hit on the same day, and up from a year low of $1.40 on May 6.
TAIB posted a 2006 fourth-quarter net profit of $5.1 million, up from $2.3 million a year earlier. Its annual net profit for 2006 increased nearly 20 percent to $22.4 million.
The bank had announced the profitable sales of two US properties for a total of $67.4 million in the fourth quarter.
TAIB, established as a private bank in Bahrain in 1979 and listed on the bourse since 1994, specialises in wealth management and investment banking.
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