Staff report
Dubai: Emirates NBD announced on Thursday that the Investment Corporation of Dubai (ICD) has committed to subscribe for its pro rata proportion of the total number of new shares to be issued through a rights issue.
The bank had announced on October 17 its rights issue to raise up to Dh6.45 billion.
“ICD being the principal shareholder in Emirates NBD holding approximately 55.76 per cent of the issued share capital of Emirates NBD, fully supports the rights issue and has agreed to exercise its rights to subscribe for its pro rata proportion of the total number of new shares to be issued,” the bank said in an emailed statement.
Following completion of the rights issue, ICD will continue to be the principal shareholder in Emirates NBD.
