UAE lender CBI seeks shareholder vote to boost capital | Reuters
United Arab Emirates lender Commercial Bank International (CBI), which is partly owned by Qatar’s National Bank (QNB), is seeking to increase its capital to comply with a regulation that its UAE shareholding should not be less than 60%.
CBI, which holds a shareholder vote on March 22, plans to issue 430 million new shares at 1 dirham ($0.2723) each to boost its outstanding shares to about 2.17 billion shares, it said in a filing to the Abu Dhabi bourse.
QNB, Qatar’s biggest lender, owns 40% of CBI.
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