DUBAI : Emirates NBD plans to raise its share capital by up to 7.35 billion dirhams ($2 billion) through the issuance of new shares, as Dubai’s largest lender prepares to bid for Turkey’s Denizbank. The bank said in January it had started initial strategic talks with Sberbank about a possible purchase of the Russian lender’s stake in Turkey’s Denizbank. The share hike, announced on Sunday, was expected to ensure the lender’s common equity tier 1 ratio did not drop below the regulated 11 percent threshold with the acquisition, said Chiradeep Ghosh, banking analyst at SICO Bahrain. Plans for the move helped send Emirates NBD’s stock surging 12.5 percent in early trading on Sunday. Emirates NBD currently has 5.56 billion authorized shares, according to Thomson Reuters data. The bank said it planned to issue new shares with a nominal value of 1 dirhams for a subscription price per share at no less than 10 percent discount to the prevailing market price. It is the latest Gulf bank seeking to raise its capital in recent weeks. National Commercial Bank, Saudi Arabia’s largest lender, and Dubai Islamic Bank have both announced similar moves. Emirates NBD’s capital increase will be discussed at a general meeting of shareholders on March 27. The bank said is was also seeking shareholder approval for a $12.5 billion medium term note program, a $1 billion structured note program and a 1.5 billion Australian dollars debt issuance program.