ADIB shareholders approve $272 mln rights issue

19/08/2018 Argaam

 

Shareholders of Abu Dhabi Islamic Bank (ADIB) on Thursday approved a capital increase by $272.47 million (AED 1 billion) through the issuance of 464 million shares, priced AED 2.16 per share, the bank said in a statement on Thursday.

 

The proposed rights issue would increase the bank's capital from AED3.168 billion to AED 3.632 billion.

 

Meanwhile, the shareholders also approved the issuance of a $750 million (AED 2.75 billion) perpetual tier 1 sukuk, and the repayment of its $1 billion hybrid tier 1 sukuk issued in 2012.

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