Investor sells $300 worth of shares in UAE's ADCB - term sheet

The investor sold 164 million shares at 6.70 dirhams a share through Bank of America Securities and Emirates NBD Capital, the term sheet said

  
Abu Dhabi Commercial Bank.

Abu Dhabi Commercial Bank.

DUBAI - An undisclosed investor has sold 1.1 billion dirhams ($300 million) worth of shares in Abu Dhabi Commercial Bank, United Arab Emirates' third-biggest lender, a term sheet seen by Reuters showed.

The investor sold 164 million shares at 6.70 dirhams a share through Bank of America Securities and Emirates NBD Capital, the term sheet said.

ADCB shares were down nearly 1% in late morning trade at 7.02 dirhams, recovering from an early low of 6.95 dirhams.

($1 = 3.6728 UAE dirham)

(Reporting by Saeed Azhar; editing by Jason Neely) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))


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