Emirates NBD announced the purchase of approximately 101.73 million shares of its shares by 254 investors on May 28, 2020.
The bank said in a statement posted on the website of the Dubai Financial Market yesterday, that 10.12 million shares were bought by one investor, describing it as the largest purchase of its kind on this date.
Sources from the bank had mentioned to Emirates Today earlier that the Dubai Financial Market is expected to request disclosure from Emirates NBD, even though the said investment process represents less than 5% of the bank’s total shares, which amounted to Its assets are 683 billion dirhams, at the end of last year.
The Emirates NBD clarifications in this regard came after the news that was recently published about Bank of America's acquisition of a 1.5% stake in the bank.
The bank confirmed that this increase in the volume of purchase comes in conjunction with the inclusion of its shares in the MSCI Emerging Markets Index, indicating that a large number of these purchases were made by funds tracking the Emerging Markets Index.
The news published earlier indicated that Bank of America purchased 100 million shares in Emirates NBD, equivalent to 1.5% of the bank’s shares, at a value of about 900 million dirhams, as the purchase was made for the benefit of an investment portfolio managed by Global Investment Corporation.