Emirates NBD Bank has said that a total of 101.7 million shares were purchased by 254 unique investors last month, following a press clipping indicating that the US-based Bank of America, (BofA) had acquired a 1.5 per cent stake in the Emirati banking giant.
In a statement published on the Dubai Financial Market website, the Emirates NBD said: "The largest purchase by one single investor was 10,116,892 shares on May 28."
"This increase in purchase volume coincides with Emirates NBD’s inclusion in the ‘MSCI Emerging Markets Standard Index’ and Emirates NBD Bank confirms that a large number of these purchases were made by Emerging Markets Index Tracking Fund, it added in the statement.
Emirates NBD issued the statement in response to a recent news report speculating that BofA had bought 100 million shares - 1.5 per cent stake of Emirates NBD Bank PJSC - worth about Dh900 million ($245 million).-TradeArabia News Service
No acquisition by 1.5% stake by BofA: Emirates NBD
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