DUBAI, UAE: Emirates NBD Bank has confirmed the sale of 127.474 million ordinary shares from its shareholding in Network International through a secondary listing of Network International’s shares on the London Stock Exchange (LSE) to MasterCard as a part of the cornerstone investment at an offer price of 435 pence/share.
Gross proceeds from the sale amount to GBP 554.5 million. Emirates NBD Bank continues to have a relationship going forward with Network International as a 25.5% shareholder and a long standing customer.
Emirates NBD Group has operations in the UAE, the Kingdom of Saudi Arabia, Egypt, India, Singapore, the United Kingdom and representative offices in China and Indonesia. On 8 November 2017, it opened operations in Mumbai, India. The Mumbai branch marks Emirates NBD’s fifth international branch outside of its UAE network.
Network International is the leading payment solutions provider in the Middle East and Africa (MEA) region. Network is also the first independent vendor certified by both Visa and Mastercard for payments in the Middle East and a member of the JCB and UnionPay card schemes. Network owns and manages the Diners Club International franchise in the UAE, Egypt, Lebanon and Jordan and is a Payment Card Industry Data Security Standard (PCI DSS) certified company.
With operation centers in the UAE, Egypt, Jordan, South Africa and Nigeria, and the corporate head office in Dubai, Network is positioned to stay abreast of the fast-evolving payments industry and to continue developing solutions for emerging opportunities.[the_ad id=”31605″]