Home Industry Finance UAE’s Rakbank buys 79.23% of RAK National Insurance in tender offer The lender acquired 87.15 million shares at a total value of Dhs317.2 million ($86.37 million), it said in a bourse filing on Thursday. by Reuters May 28, 2015 United Arab Emirates-based National Bank of Ras Al Khaimah (RAKBANK) on Thursday said it had bought a 79.23 per cent stake in Ras Al Khaimah National Insurance after a making a public offer to shareholders. RAKBANK, the sixth-largest lender by market value on the Abu Dhabi bourse, said on May 19 it was looking to buy all or majority of the insurance firm’s shares at a price of Dhs3.64 a share. The lender acquired 87.15 million shares at a total value of Dhs317.2 million ($86.37 million), it said in a bourse filing on Thursday. 0 Comments