Dubai Islamic Bank in offer for remaining 13.5% stake in Tamweel | The National

Dubai Islamic Bank in offer for remaining 13.5% stake in Tamweel | The National:



"Dubai Islamic Bank has made an offer to buy the remaining 13.5 per cent of the Sharia-compliant mortgage lender Tamweel which it does not already own. 




Dubai’s largest Islamic bank said that it was offering Tamweel shareholders Dh1.25 per share to buy the remaining stake in the company, which it did not purchase back in 2013 when it bought a majority 86.5 per cent stake in Tamweel and took the company private.



According to Bloomberg data which reports that there are currently 864.99 million Tamweel shares in circulation, at the offer price the remaining stake would be worth about Dh146.3 million."



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