ADCB gets green light to buy back 10% of its shares
- United Arab Emirates: Monday, January 28 - 2013 at 16:13
The ADX General Index gained a quarter percentage point Monday, closing at 2,806.89 points. Abu Dhabi Commercial Bank or ADCB surged 2.74% to reach Dhs3.38. Earlier in the day, ADCB said the UAE central bank had no objections against the lender's plan to buy back 10% of its shares. Merging developers Aldar and Sorouh fell 2.11% and 0.58%, respectively. Earlier in the day, both developers said their merger will be subject to shareholders' vote in Feb. whilst the merger will be completed end of June this year.
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