UAB shareholders approves increase in issued capital

Dubai: United Arab Bank said its general assembly authorised the board of directors to increase the issued capital of the Bank.

The shareholders approved the increase in the issued capital of the Bank amounting to Dh1.375 billion within the authorised capital limit of Dh2.75 billion. Hence the bank’s issued capital becomes Dh2.062 billion through the issue of 687 million shares for Dh1 per share, the bank said in an emailed statement.