The First Abu Dhabi stock continued to decline at the beginning of today’s session, by 1.5%, topping the trading value of the Abu Dhabi Securities Exchange, following the bank announced yesterday the withdrawal of the non-binding offer regarding the acquisition of the majority stake in the Egyptian financial group Hermes.
By 11:1 am, the bank’s share fell at the level of 22.3 dirhams.
Meanwhile, the value of trading on the bank’s share amounted to regarding 107.1 million dirhams, executing a trading volume of regarding 3.3 million shares.
The first Abu Dhabi drop continued to pressure the Abu Dhabi index, falling by 0.27% at the level of 9920 points.
The value of trading in the market amounted to regarding 521.7 million dirhams, with a trading volume of 92.08 million shares, with the bank’s share grabbing more than 20.5% of the market’s liquidity.
The First Abu Dhabi Bank decided to withdraw the non-binding offer made on February 9, 2022, regarding the possible acquisition for cash of a majority stake in EFG Hermes Holding LLC, one of the financial services institutions listed on the Egyptian Stock Exchange, stressing that the Egyptian market will remain strategically important. For First Abu Dhabi Bank, the Bank will continue to support its customers and employees, and invest in developing its well-established partnerships and operations in Egypt.
First Abu Dhabi Bank announced today that its board of directors will meet on April 27 to discuss the financial statements for the first quarter of 2022.