Dubai – Mubasher: Emirates NBD Bank, listed on the Dubai Financial Market (DFM), on Thursday announced it has sold an aggregate of 52.6 million ordinary shares in the share of capital of Network International Holdings Plc, a UK-based holding company.
The transaction has been implemented through an accelerated book-build to institutional investors at a price of 580 pence per ordinary shares, according to a bourse filing.
Accordingly, a sum of GBP 304.9 million has been raised in gross proceeds, the bank noted.
Once the placing is completed, the DFM-listed bank will hold 59.7 million ordinary shares in the share capital of Network International, which accounts for nearly 11.9% of the UK firm’s entire issued share capital.
Network International will not receive any proceeds from the placing, Emirates NBD highlighted.
The leading bank also revealed that Citigroup Global Markets Limited, Morgan Stanley & Co International Plc, J.P.Morgan Securities Plc, and Emirates NBD Capital Limited acted as the bookrunners of the placing.
