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%.
-
Economy2 months ago
Here’s Everything You Need to Know About Oman’s State General Budget for 2025
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, December 24
-
Automotive2 weeks ago
[REVIEW] A Legend Reinvented: The Nissan Patrol Y63 Blends Heritage with Modern Mastery
-
Banking & Finance2 months ago
His Majesty the Sultan Appoints Ahmed Al Musalmi as Governor of the Central Bank of Oman
-
OER Magazines3 weeks ago
OER, January 2025
-
Alamaliktistaad Magazines4 weeks ago
Al-iktisaad, January 2025
-
Banking & Finance4 weeks ago
Ishraq Waqf Investment Fund Announces Extension of IPO Subscription Deadline
-
Banking & Finance1 month ago
Bank Muscat’s 2024 Net Profit Grows To RO225.58Mn
You must be logged in to post a comment Login