Dubai – Mubasher: Emirates NBD Bank on Wednesday announced the sale of 31 million ordinary shares in the share capital of Network International Holdings, according to the lender’s official statement.

The sale will be made through the means of an accelerated bookbuild to institutional investors, at 515 pence per ordinary share, which in turn will raise gross proceed of nearly GBP 160 million ($205.60 million).

After concluding the sale, Emirates NBD will be holding 28.6 million ordinary Network International shares, which will account for around 5.7% of the payment solutions provider’s entire issued share capital.

Citigroup, JPMorgan’s securities unit and Morgan Stanley have been mandated as joint bookrunners for the sale, the statement said.