Abu Dhabi Islamic Bank proposes to increase the capital of the bank of one billion dirhams

The Board of Directors of the Islamic Bank of Abu Dhabi (ADIB) decided yesterday to recommend to the General Assembly of the Bank to increase the issued capital of the Bank of 464 million AED Distributed more than 464 million common shares with a par value of 1 AED each and a premium of 1.16 AED per share The total value of the rights issue is 1 billion AED.

This decision results from the strategic objectives adopted in the framework of the ADIB 2020 plan and the support of the Bank's growth plans.

The rights issue is subject to the approval of the regulators and shareholders of the Bank at a general meeting to be held in the coming weeks and proposed $ 750 million ( 2.75 billion dirhams) and the repayment of an additional $ 1 billion of outstanding capital certificates issued by the Bank in 2012.

ADIB aims to increase the issued capital from 3,168,000,000 to 3,632,000,000 AED per issue 464 million shares. "Abu Dhabi Islamic Bank has expanded its operations in recent years, with more than one million customers, twice as many customers in five years," said Khamis Buharoun, vice president and general manager of 39; ADIB. . … more