Dubai – Mubasher: Dubai Islamic Bank (DIB) entered the red territory following its announcement that it mandated a group of banks to issue Sukuk in Asia, the Middle East and Europe.

The Dubai-listed stock plunged 7.67%, shedding AED 0.490 to AD 5.90 per share as 8.1 million shares were traded through 311 transactions at a turnover of AED 48.19 million (as 12:05 pm – Dubai Time).

DIB announced earlier today that it has mandated HSBC and Standard Chartered Bank to as Joint Structuring Banks, along with Al Hilal Bank, DIB, Emirates NBD Capital, HSBC, the National Bank of Abu Dhabi (NBAD), Noor Bank, Sharjah Islamic Bank and Standard Chartered Bank as Joint Lead Managers to arrange a series of fixed-income investor meetings in Asia, the Middle East and Europe.

Worth noting, DIB had acquired Malaysia’s Islamic Banyan Bank in 2014 in a deal reaching $21 million (AED 77.12 million).

DIB’s capital amounts to AED 3.95 billion distributed on 3.95 billion shares at par value AED 1 per share.


Photo Credit: Arabianeye-Reuters