Emirates NBD (ENBD) said that the Investment Corporation of Dubai (ICD), being the principal shareholder in Emirates NBD, will subscribe for its prorate proportion of the total number of new shares to be issued pursuant to the rights issue.

ICD holds approximately 55.76 per cent of the issued share capital in Emirates NBD. Following completion of the rights issue, ICD will continue to be the principal shareholder in Emirates NBD.

Emirates NBD recently announced the launch of its strategic rights issue to raise up to Dh6.4 billion ($1.74 billion). – TradeArabia News Service