ADIB Rights Issue: Subscription Opens November 10, New Shares To Trade From December 18

(MENAFN- Khaleej Times) Abu Dhabi Islamic Bank (Adib) announced on Monday that subscription for its Dh1.75 billion rights issue will open on November 10 and close on November 24, with trading in the new shares scheduled to begin on December 18, 2026.

The bank also confirmed that shareholders must purchase Adib shares by October 29 to qualify for the offering, while the eligibility date has been set for November 2.

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Eligible shareholders will be able to buy or sell their subscription rights on the Abu Dhabi Securities Exchange (ADX) between November 4 and 16.

The latest announcement follows shareholder approval of the capital increase on October 6, The bank has also secured the necessary approvals from the Central Bank of the UAE and the Capital Market Authority.

Shareholders offered shares at 28.8% discount

The rights issue, approved by shareholders last week, is expected to raise up to Dh1.75 billion in gross proceeds through the issuance of up to 106.38 million new ordinary shares.

The new shares will be offered at Dh16.45 each, comprising a nominal value of Dh1 and a share premium of Dh15.45.

The offer price represents a 28.8 per cent discount to Adib's closing share price on August 24, 2026.

Eligible shareholders will receive approximately one subscription right for every 34.14 existing shares held, with each right allowing them to subscribe for one new share.

Once completed, the capital increase will raise ADIB's issued and paid-up share capital from Dh3.632 billion to approximately Dh3.738 billion.

What happens if shareholders do not subscribe?

Adib said shareholders who do not wish to subscribe for additional shares can sell their rights on ADX during the rights trading period.

Those who do not exercise or sell their rights will retain their existing shares, but their percentage ownership in the bank will be diluted following the issuance of the new shares.

Adib expands digital subscription options

Adib will act as the sole receiving bank for the rights issue.

Eligible shareholders can subscribe through the ADX ePortal or participating Adib branches, while existing customers can also complete the process digitally through the Adib Mobile App.

The bank said the multiple subscription channels are intended to make participation more accessible to eligible shareholders.

Vision 2035 growth strategy

The rights issue comes as Adib continues expanding its operations under Vision 2035, with the additional capital expected to support future growth while maintaining a strong capital position.

Mohamed Abdelbary, Group Chief Executive Officer of Adib, said the bank is entering its next phase of growth from a position of strength, supported by business momentum and significant opportunities.

“The additional equity will provide greater capacity to fund this growth while maintaining capital strength,” Abdelbary said in earlier comments reported by Khaleej Times.

Adib's total assets reached Dh304 billion at the end of the first half of 2026, surpassing the Dh300 billion milestone.

The bank also reported a return on equity of 28 per cent in the first half of 2026, compared with 29 per cent in 2025 and 28 per cent in 2024.

Abdelbary previously highlighted opportunities to accelerate the bank's digital and artificial intelligence capabilities as part of its longer-term growth plans.

Further information on the rights issue, including the official prospectus and subscription procedures, is available on Adib's website.

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