Ajman Bank plans DFM share listing on June 22

Ajman: Ajman Bank on Thursday announced that it will list its shares on the Dubai Financial Market (DFM) on June 22.

Ajman Bank's share ticker will be AJMANBANK. More than 211,000 UAE and non-UAE investors applied for shares in the initial public offer, submitting more than Dh42 billion for investment, representing an over-subscription rate of more than 77 times.

Ajman Bank will be the first Sharia-compliant bank incorporated and headquartered in Ajman. Its strategy is to target the rapidly expanding Sharia-compliant financial services market with innovative products and services.

"Ajman Bank would like to thank all investors and our financial advisor and lead manager, HSBC," said Shaikh Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman and chairman of Ajman Bank.