Banking & Finance
Emirates NBD Near to Hiring Banks for $2 Billion Rights Sale
(Bloomberg) — Dubai’s biggest bank is close to appointing Citigroup Inc. and Morgan Stanley to manage a rights share offering of as much as $2 billion, people with knowledge of the matter said. Emirates NBD may also involve its investment banking division, Emirates NBD Capital Ltd., in the process and could hire other banks as well, the people said, asking not to be identified because the discussions are private. Banks haven’t formally been hired for the sale and the situation may change, they said.
A spokeswoman for Citigroup declined to comment. A spokesman for Morgan Stanley declined to comment.
Emirates NBD last year proposed selling new shares to help fund the acquisition of Turkey’s Denizbank AS. The Dubai lender Thursday said it raised 305 million pounds ($373 million) from the sale of a stake in London-listed Network International Holdings Plc.
The bank last week also raised the cap on foreign ownership limit to 20% from 5% and will seek shareholder approval to double the new limit to help attract capital.
Emirates NBD shares fell as much as 3.3% in Dubai, while the benchmark index dropped 0.7%.
-
Insurance2 months agoSupporting Community Wellness: Liva Insurance Sponsors Muscat Marathon 2026 with Free Health Checkups
-
Dossier2 weeks agoDossier, 2026
-
Interviews2 months agoEXCLUSIVE INTERVIEW: TLS Rebranding Marks Strategic Leap Toward Innovation, Sustainability & Growth
-
Insurance1 month agoLiva Insurance Supports Community Wellness Through “Experience Oman – Muscat Marathon 2026”
-
OER Magazines1 month agoOER, January 26
-
Banking & Finance2 weeks agoNational Finance Unveils Exclusive Ramadan Offers on Auto Financing
-
Alamaliktistaad Magazines2 months agoAl-iktisaad, January 26
-
Banking & Finance2 weeks agoSohar International and Sohar Islamic Supports Over 100 Families in Al Wusta Governorate Through Its ‘Sohar Al Attaa’ Initiative

You must be logged in to post a comment Login