Welcome to the Reuters.com BETA. Read our Editor's note on how we're helping professionals make smart decisions.
Skip to main content

Middle East

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

1 minute read

DUBAI, June 17 (Reuters) - An undisclosed investor has sold 1.1 billion dirhams ($300 million) worth of shares in Abu Dhabi Commercial Bank (ADCB.AD), 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

Our Standards: The Thomson Reuters Trust Principles.

More from Reuters