Shareholders of Abu Dhabi Islamic Bank (ADIB) have approved a rights issue to raise about AED 1.75 billion to fund growth under the lender’s Vision 2035 strategy, following a General Assembly vote on October 6.
The offer comprises 106,383,000 new shares priced at AED 16.45 each, a 28.8% discount to the August 24 closing price, with one new share available for every 34.14 held. Issued and paid-up capital will rise from AED 3.632 billion to AED 3.738 billion, and major shareholders have already committed to taking up their entitlements.
The record date and the rights trading and subscription periods have yet to be set and remain subject to regulatory approval. ADIB’s assets reached AED 304 billion at the end of the first half of 2026, after 24% growth in 2025, while return on equity has held at 28-29% since 2024. The raise follows recent rights issues by Abu Dhabi Commercial Bank and Sharjah Islamic Bank.
Gulf Economist Staff Writer