Emaar plans to float at least 15 per cent of its shopping malls and retailing unit on Dubai’s main stock market and will list the shares in October.
The bank, which currently has one branch in the Kingdom, is looking to grow operations across the country.
DIB plans to increase its stake in Bank Panin Syariah to 40 per cent from the current 25 per cent, its CEO said.
Following the transition, ADIB will serve over 700,000 customers across a network of 85 branches, 660 ATMs, internet and mobile platforms.
The change in rules could dent profit growth at banks, especially those that rely heavily on retail activity.
Following a series of investor meetings, ENBD aims to complete a U.S. dollar-denominated bond offering of benchmark size, one of the sources said.
Shares in Emaar, the biggest listed developer in Dubai, surged 6.7 per cent on strong volume and dominated trading in the emirate.
Sharjah has appointed HSBC, Kuwait Finance House, National Bank of Abu Dhabi, Sharjah Islamic Bank and Standard Chartered to arrange the roadshows.
Emaar, the emirate’s largest listed developer, which surged 8.8 per cent to Dhs11.15, its highest close since March 2008.
The mobile operator did not say when it would join the bourse.
Chinnakannan Sivasankaran, the chairman of Chennai-based Siva, filed for bankruptcy in the Seychelles after a British court in June ordered him to pay the money to Batelco’s subsidiary BMIC.
Fahad Abdulla al-Khalifa has previously worked at Qatari institutions including Qatar National Bank and the Qatar central bank.
Emaar’s shares rose 5.4 per cent to Dhs10.80 today, bringing their year-to-date gains to 56 per cent.
Emaar, Dubai’s largest real estate developer, will offer 30 per cent of the shares to individual investors and 70 per cent to qualified institutional investors.
Fund managers still see pockets of opportunity in Saudi due to the market’s liquidity and diversity.
Bahrain last sold a sovereign bond in July 2013, when it completed a $1.5 billion deal with a ten-year lifespan.
The lender will hold roadshows in Asia, the UAE and Europe from September 4, with a Tier 1-boosting bond issue to follow, subject to market conditions.
Arabtec shares jumped 13 per cent to Dhs4.79 over the past four trading days on speculation about a potential deal between Hasan Ismaik and Aabar.
Exclusive: The UAE has seen a flight to safety of wealth from conflict-ridden areas in the region, says Emirates NBD CEO Shayne Nelson.
Hasan Ismaik, the former CEO of Arabtec, confirmed that he was in talks with Abu Dhabi state fund Aabar to sell part of his stake.
Christine Lagarde was questioned by magistrates in Paris for a fourth time this week under her existing status as a witness in a political fraud affair.
Investors are hoping Abu Dhabi’s Aabar will soon buy a part of the 27.9 per cent stake held by Arabtec’s former CEO Hasan Ismaik.
The facility will help GFH redeem two syndicated debt facilities and allow the release of some major assets.
As part of a US settlement last week, the bank agreed to end high-risk relationships with SMEs in the UAE.
MB UAE Investments will acquire 51 per cent and Al Madina Insurance Co will get 9.53 per cent of Islamic insurer National Takaful Co (Watania).
Nayef Al-Hajraf replaces Saleh Al-Falah, who had held the post since the Capital Market Authority began operating in early 2011.
Corpbank’s fate has been in limbo since June, when a run on deposits prompted the central bank to seize control of it and close its operations.
Exclusive: Shayne Nelson, the CEO of Emirates NBD, says mid-sized banks in the country should consider in-market mergers.
The stock index has jumped 13.3 per cent since the opening of the market was announced on July 22.
The Hang Seng Index rose 0.2 per cent to 25,166.91 points.