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The Islamic Bank of Abu Dhabi decides to increase its issued capital of 464 million AED
The ADIB Board of Directors decided Wednesday to recommend to the General Meeting of the Bank to increase its subscribed capital of 464 million AED distributed on 464 million dirhams Ordinary Shares with a par value of 1 AED plus a premium of 1.16 AED per share. In a statement on the Abu Dhabi Financial Market website, the bank said Thursday that the total value of the rights issue is AED 1 billion, with shareholders entitled to subscribe for shares. Shareholders who have asked for more than the proportion of their shares.
The board of directors decided to issue a US $ 750 million Sukuk first-level program compliant with Sharia law and to enter into related agreements to improve the solvency ratio of the bank.
The Bank also decided to repay the outstanding issuance of additional capital certificates of the first tranche of US $ 1 billion.
The Bank achieved a net profit of AED 1.163 billion in the first half of 2018, an increase of 3% over the same period of last year, thanks to rigorous cost management and a reduction in financial losses. Abu Dhabi Islamic Bank decides to increase its issued capital of AED 464 million Please let us know or leave a comment below.
Source: Forex News today
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