Dubai's Emirates Islamic Bank to be de-listed from DFM

17/06/2025

Dubai: Shares of the Emirates Islamic Bank will no longer trade on Dubai Financial Market from June 10.

This comes after Emirates NBD decided to buy up all shares in EIB not held by it.

"EIB will instruct the DFM to suspend trading of its shares with effect from 10 June 2025," said a statement.

"All remaining EIB shares (not already held by ENBD) will be re-registered in the name of ENBD in EIB’s share register on or around 13 June 2025.

"ENBD will settle any cash consideration due to those remaining EIB shareholders through the relevant payment method as registered with Dubai CSD at DFM by such EIB shareholders."

It was late February that Emirates NBD confirmed it will mop up all EIB stocks not held by it. EIB was operating as the Islamic banking subsidiary of ENBD, Dubai's biggest bank. EIB has a solid presence with retail and business clients and in recent quarters had put in decent growth numbers.

The offer price was Dh11.95 a share.

'No objection'

"EIB shareholders are notified that the notice period for mandatory acquisition ended on 7 June 2025," said a statement.

"As of today’s date - 9 June 2025 - neither EIB nor ENBD has received any objection to the mandatory acquisition announced on 8 April 2025."

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