Trading suspended following EBI-NBD merger

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.