PHOTO
Dubai – Mubasher: Dubai Investments has purchased 32.3 million shares in National General Insurance Company (NGI) from Emirates NBD.
The transaction, valued at AED 3.27 per share, represents 21.53% of NGI's share capital, according to a bourse filing on Wednesday.
Following the execution of the direct deal, Dubai Investments' total ownership in NGI reached 29.99% of NGI's issued share capital.
Meanwhile, Emirates NBD Bank continues to hold 22.778 million shares in NGI, representing 15.19% of the issued share capital of NGI.
It is noteworthy to mention that the ordinary general meeting (OGM) of Dubai Investments approved to pay cash dividends, equivalent to 8% of the capital, for 2020.
Source: Mubasher
All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
