Invest Bank raises stake in UAE's Amanat; Astro AD Cayman exits

Invest Bank raises stake in UAE's Amanat; Astro AD Cayman exits
Invest Bank became a main shareholder in Amanat
Amanat AMANAT -1.45% 1.36 -0.02
QFB QFBQ 0.83% 6.06 0.05

Dubai – Mubasher: The Dubai Financial Market (DFM) on Tuesday carried out two major transactions for a combined 340 million shares in Amanat Holdings, which account for 13.6% of the company’s shares in consideration of AED 414.45 million

Following the deal, Invest Bank became a main shareholder in Amanat, while Rimco Investments’ stake shrank to 5.2% from 12.2%, according to a bourse statement.

Astro AD Cayman, which is fully-owned by Qatar First Bank (QFB), sold its 5% stake in Amanat for AED 150 million, according to the Qatar Stock Exchange (QSE).  

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Source: Mubasher

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