Mkt Price: GBP 3.75p
Mkt Cap: GBP 66.2 mio
Equity/Total Assets Ratio: 69.2%
P/B Ratio: 0.46 (adjusted)
Price/Cash Ratio: 0.61 (adjusted)
Congrats if you guessed I was referring to the European Islamic Investment Bank in my last post! EIIB’s the first independent Sharia’a compliant Islamic bank authorized by the FSA. Headquartered in London, EIIB offers Sharia’a compliant treasury, investment, private equity and investment banking services. Established in early 2005, their FSA authorization process took a little over a year to complete. The bank then immediately opened up for business, following up with an IPO a month later. Fortunately, these were the boom times (aah, remember those days..?!) and they raised an impressive GBP 183 mio of Equity from a private placing and their IPO.