ADIB sets out dates for its rights issue

ADIB has announced that each shareholder will have the right to subscribe to 29 new shares for every 198 shares held on 10 Sept

ADIB has announced that each shareholder will have the right to subscribe to 29 new shares for every 198 shares held on 10 September 2018, subscription will start on 25 September and end on 9 October.

In a statement, ADIB said that each right grants its holder the eligibility to subscribe to one new share at an issue price of AED 2.16 per share, reflecting the nominal value of AED 1 per share and a share premium of AED 1.16 per share which represents a 45 per cent discount to the market share price.

The lender will act as the sole receiving bank and oversee the subscription process.

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