IPOs & Markets
The state-controlled Emirates NBD PJSC plans to offer 758.8 million shares at 8.5 dirhams each.
The U.A.E., the second-biggest Arab economy, currently caps foreign ownership of businesses at 49%.
The deal values the firm at more than $4 billion.
The Middle East’s financial-services industry is witnessing a wave of consolidation as banks seek ways to improve competitiveness and boost capital.
An acquisition would create a lender with $76 billion in assets.
The Middle East’s financial services industry is witnessing a wave of consolidation as banks seek ways to improve competitiveness.
The fund is looking at sectors including hi-tech industries, artificial intelligence, health care, real estate, as well as traditional private equity.
Citigroup Inc., Samba Financial Group and Mitsubishi UFJ Financial Group Inc. were also among banks that participated.
The bank will focus on consolidation in markets its recently entered, including those in Africa, Pakistan and Bangladesh. The company also sees an opp
Noor Bank will hold the stakes alongside other investors and limited partners.
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