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Emerging Markets

EIIB hopes to push up share price with tender premium

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The European Islamic Investment Bank has launched a tender offer to buy back up to £20m of its shares — representing around 21% of the company’s share capital — at a chunky premium to where they were trading. But this is because the bank has priced the deal off its book value rather than the market value, and hopes to narrow the gap between the two, said an EIIB official.

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