Emirates NBD Near to Hiring Banks for $2 Billion Rights Sale - Bloomberg:
Dubai’s biggest bank is close to appointing Citigroup Inc. and Morgan Stanley to manage a rights share offering of as much as $2 billion, people with knowledge of the matter said. The shares fell.
Emirates NBD PJSC may also involve its investment banking division, Emirates NBD Capital Ltd., in the process and could hire other banks as well, the people said, asking not to be identified because the discussions are private. Banks haven’t formally been hired for the sale and the situation may change, they said.
A spokeswoman for Citigroup declined to comment. A spokesman for Morgan Stanley declined to comment.
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