ADIB approves Dh1bn rights issue and Dh2.75bn sukuk - The National:
Shareholders of Abu Dhabi Islamic Bank, the emirate’s biggest Sharia-compliant lender, approved on Sunday a Dh1 billion rights issue and the issuance of a Dh2.75bn ($750 million) sukuk in line with its growth strategy.
“Our focus has always been on maintaining a solid capital base, which can provide stability and enable the bank to expand and grow from a position of strength,” said Khamis Buharoon, vice-chairman and acting chief executive of ADIB, in a statement following ADIB’s general assembly in Abu Dhabi.
The rights issue will increase ADIB’s issued and subscribed-to share capital to Dh3.6bn through the issuance of 464,000,000 new shares issued at Dh2.16 per share. This represents a 45 per cent discount to the market share price as of July 25, ADIB said in the statement.
No comments:
Post a Comment