Dubai – Mubasher: Emirates NBD on Monday announced that its 51%-owned subsidiary Network International (NI) was considering an initial public offering (IPO) of its shares.

The bank further noted that talks of an IPO for NI, which is a leading payment solutions provider in the Middle East and North Africa (MENA) region, come at a time when the company and its stakeholders were pondering several strategic options.

The statement conformed that no final decision has been yet made on whether or not the Network International or its shareholders will proceed with the IPO, Emirates NBD said in a statement published on the Dubai Financial Market (DFM).

The bank did not disclose where NI would launch its potential IPO nor what it would use proceeds for.

Emirates NBD’s stock closed Monday down 1.60% to AED 9.25.