Emirates NBD Bank P.J.S.C. confirms the sale of an aggregate of 31.0 million ordinary shares in the share capital of Network International Holdings plc (Network International), by way of an accelerated bookbuild to institutional investors at a price of 515 pence per ordinary share (the “Placing”), raising gross proceeds of approximately GBP 160 million.
Following the completion of the Placing, Emirates NBD Bank P.J.S.C. will hold 28.6 million ordinary shares in the share capital of Network International, representing approximately 5.7 per cent of Network International’s entire issued share capital. No proceeds from the Placing will be received by Network International.
Citigroup Global Markets Limited (“Citigroup”), J.P. Morgan Securities plc which conducts its UK investment banking activities as J.P. Morgan Cazenove (“J.P. Morgan Cazenove”) and Morgan Stanley & Co. International plc (“Morgan Stanley”) acted as Joint Bookrunners in connection with the Placing.
Emirates NBD Bank P.J.S.C, a long-standing customer of Network International, maintains a key relationship with Network International for its Cards business
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