Business | Markets

Channel Sponsor

Trading suspended following EBI-NBD merger

The Dubai Financial Market suspended trading on the shares of Emirates Bank International (EBI) and the National Bank of Dubai (NBD) yesterday as news of the merger became public.

  • By Ahmed Elewa, Staff Reporter
  • Published: 23:37 May 3, 2009
  • Gulf News

Dubai: The Dubai Financial Market suspended trading on the shares of Emirates Bank International (EBI) and the National Bank of Dubai (NBD) yesterday as news of the merger became public.

“We have suspended the trading on both banks because we had no relevant details in relation to the announced merger,'' Eisa Kazim, director general of DFM said.

The suspension – standard practice to protect investors – came after the merger was announced on the official news agency Wam yesterday.

Kazim said the market had requested details of the merger, including the timeframe, shares, and other information.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

Related Articles

  1. Analysts say decision will be good for Dubai

    Analysts say decision will be good for Dubai

  2. What to expect from new entity

    What to expect from new entity

    What to expect from new entity

  3. Two decades on, economic setting has changed

    Two decades on, economic setting has changed

    Two decades on, the economic setting for bank mergers has changed

  4. Experts say industry to see more consolidation

    Experts say industry to see more consolidation

    More consolidation following EBI-NBD merger, say experts

  5. Reactions: EBI-NBD merger

    Reactions: EBI-NBD merger

    Reactions: EBI-NBD merger

  6. Dubai merger creates UAE's largest bank

    Dubai merger creates UAE's largest bank

    Emirates Bank-National Bank of Dubai merger to create UAE's largest bank

  7. Bank merger to help UAE extend reach

    Big bank merger to help UAE take on foreign competition

More from Markets

  1. UAE general market index falls as investors stay away

  2. Stocks signal move to traditional sectors

  3. Latest economic data expected to show recovery still under threat

  4. US treasury bills fall as short-term note yields remain low

All articles in Markets

More from Business

Gulf News
Popular in Business
Airlines in the region
Budget travel

Airlines in the region

Take a pictorial look at some of the budget airlines in GCC

Business Editor's choice