The agreement with Indian businessman Mohan Valrani will see the creation of two primary schools and two secondary schools.
At present, investors wishing to raise their stake in a firm to more than 30 per cent must offer to buy all of its shares under the same price and conditions.
The fund is most likely to be Mubadala, sources said, given that it already has telecommunications assets and an existing partnership with Etisalat in Africa.
The changes are part of plans to introduce at least two new rules covering the stock exchanges every year, a top official said.
The company’s revenue for the quarter also rose 6 per cent year-on-year.
The implementation of measures against financial crime is of growing importance in the region, a new KPMG survey says.
The firm made a profit of 206.3 million riyals ($56.66 million) in the three months to March 31.
Investors subscribed Dhs10 billion ($2.7 billion) to the fixed offer of 275 million shares in Marka , which were priced at Dhs1 each.
Arab bankers said they expect to see global banks moving increasingly to sell Middle East retail units or merge subsidiaries with other banks.
Emirates NBD is Dubai World’s biggest creditor with an exposure of more than Dhs9 billion($2.5 billion), against which it has set aside provisions of five per cent
Mohammed al-Omar’s resignation as CEO is linked to wider management changes at KFH, one of the sources said.
The lender made a net profit of Dhs1.04 billion ($283.7 million) in the three months to March 31, a statement from the bank said.
Net profit for the opening three months of the year was 432.4 million riyals ($118.8 million) , a company statement said.
The bank’s operating profit reached Dhs151.1 million, up 18.8 per cent year-on-year.
The company will use available funds to repay the amount, which is the remainder due on a $555 million facility maturing in December 2015.
The lender made a net profit of Dhs1.33 billion ($362.1 million) in the three months ending March 31.
The exchange made Dhs215.1 million ($58.6 million) in the opening three months of 2014, compared to Dhs27 million in the same period last year.
The sources said it was currently unclear if STC was looking to complete a sukuk issue in the local Saudi market.
The 10-year loan is the first such facility agreed between ADCB and NIC.
The government’s holding in the operator will drop to 51 per cent following the completion of the second and final part of the share sale.
The company posted a net loss of 8.2 million Kuwaiti dinars ($29.2 million) for the 2013, against a 3.3 million dinar loss a year earlier.
The company said its profit for the three months to March 31 would likely be Dhs265 million ($72.2 million).
UAE lender beats analyst expectations in the first quarter.
Head of Oman’s Central Bank says infrastructure projects are generating economic activity.
No information was given as to the stake size being acquired, but some current shareholders will remain as minority shareholders, Fajr Capital said.
Initial price thoughts on the Islamic bond have been set between 5 and 5.125 per cent.
Calls for investors in projects consisting of 27 million square metres of new prime floor space and 220,000 homes.
Investcorp said the acquisition would help Totes Isotoner expand its geographic footprint and product range.
The country has been considering an IPO of its stock market for years, but political infighting and entrenched bureaucracy delayed it.
The lender made a net profit of Dhs409.5 million ($111.5 million) in the three months to March 31.