ADIB Approves Rights Issue To Raise Dh1.75 Billion In Gross Proceeds

(MENAFN- Khaleej Times) Abu Dhabi Islamic Bank (Adib) shareholders have approved a rights issue that is expected to raise approximately Dh1.75 billion in gross proceeds. Following a shareholder meeting on Tuesday, a resolution was approved to increase the bank's issued and paid-up share capital which, once completed, will increase from Dh3.632 billion to Dh3.738 billion.

Earlier in August, Adib's board of directors approved the same proposal. The rights issue will involve 106,383 million new shares priced at Dh16.45 each. Of this, Dh1 represents the nominal value of each share, while Dh15.45 will be recorded as share premium.

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The shares are being offered at a 28.8 per cent discount to Adib's closing price on the Abu Dhabi Securities Exchange on August 24. Existing shareholders will be able to buy roughly one new share for every 34.14 shares they currently hold, subject to the final terms of the issue.

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The issue price represents a discount of approximately 28.8 per cent to Adib's closing share price on the Abu Dhabi Securities Exchange as of August 24, 2026. Eligible shareholders will be entitled to subscribe for approximately one new share for every 34.14 existing shares held, in accordance with the final subscription terms.

The bank said the additional capital will strengthen its capital base and support the next phase of growth under Vision 2035.

Mohamed Abdelbary, Group CEO of the bank, said he sees significant opportunities to accelerate digital and AI capabilities, among other things, after having surpassed Dh300 billion in total assets.

Adib reported strong profitability and dividend distributions at the end of the first half of this year, with total assets reaching Dh304 billion. Return on equity stood at 28 per cent in 2024, 29 per cent in 2025 and 28 per cent in the first half of 2026.

“The additional equity will provide greater capacity to fund this growth while maintaining capital strength,” Abdelbary said.

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