Abu Dhabi Islamic Bank approves capital boost
Shareholders of Abu Dhabi Islamic Bank have approved an increase in its capital by up to AED 106.38 million through the issuance of up to 106.38 million new shares via a rights issue to current shareholders. The share price is AED 16.45, which includes a nominal value of AED 1 and a subscription premium of AED 15.45. This will enable the bank to raise approximately AED 1.75 billion if all shares are fully subscribed. The purpose of the capital increase is to support and finance the bank’s strategic plans. As a result, the capital will rise from AED 3.632 billion to AED 3.738 billion, an increase of about 2.9% upon full subscription, subject to amendments to the bank’s bylaws and the implementation of the necessary procedures after obtaining the relevant regulatory approvals.
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