Abu Dhabi – Mubasher: The National Bank of Abu Dhabi (NBAD) announced that its merger with First Gulf Bank (FGB) has become effective at the close of trading on 30 March 2017, according to a statement.
The Securities and Commodities Authority (SCA) approved the increase in NBAD’s share capital, the dissolution of FGB, and the transfer of its rights and liabilities to NBAD from the effective date.
The new number of outstanding NBAD ordinary shares following the capital increase is 10.89 billion.
NBAD’s ordinary shares of 5.64 billion have been issued to the shareholders of FGB who appeared on the share register immediately before 30 March.
The ordinary shares have been listed on the Abu Dhabi Securities Exchange (ADX), and shareholders will be able to trade their new shares from 2 April.
