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Wednesday, 29 March 2017

FGB shares to be delisted on Thursday ahead of merger with NBAD | The National

FGB shares to be delisted on Thursday ahead of merger with NBAD | The National:

"The Abu Dhabi lender FGB will have its shares delisted from the stock exchange today ahead of its merger with National Bank of Abu Dhabi (NBAD).

Shares in the new entity, which retains the NBAD name, will begin trading on Sunday after the formal declaration of the new merged entity at the close of trade today, the banks said in a brief statement on the website of the Abu Dhabi stock exchange. Those shares include 5,643,000,000 new NBAD ordinary shares issued to FGB shareholders, the lenders said.


The merger, which was approved by both banks’ shareholders on December 7, was done in part to cut down on costs by removing duplicate posts and sharing resources."



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