DUBAI: Dubai’s biggest bank is seeking to raise 6.45 billion dirhams (US$1.76bil) from a rights share offering as it expands abroad and courts more foreigners to its stock.
The state-controlled Emirates NBD PJSC plans to offer 758.8 million shares at 8.5 dirhams each, it said in a statement. That compares with its closing price of 13.15 dirhams on Oct 16 and represents a discount of about 35%.
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