ADIB’s Dh1.75 billion rights issue opens on Nov 10
Shareholders will get one right per 34.14 shares held; Shares to start trading on Dec 18
Abu Dhabi: Abu Dhabi Islamic Bank (ADIB) opens subscriptions for its Dh1.75 billion or roughly $476 million rights issue on November 10. The window for subscription will close on November 24, inclusive of both days.
Shareholders who registered on November 2 received one right for every 34.14 shares held. Each right lets the holder buy one new share at Dh16.45 each. A shareholder with 3,414 shares holds 100 rights and will need Dh1,645 to take them up in full.
Rights trade on the Abu Dhabi Securities Exchange will trade under the symbol “ADIBRI26” until November 16. The new shares are expected to begin trading on December 18.
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How to apply
Investors can apply through the ADX ePortal and participating ADIB branches. ADIB account holders can also subscribe on the ADIB Mobile App with their existing credentials. ADIB acts as sole receiving bank.
Shareholders who skip their entitlement keep their shares, but their ownership stake will shrink. That also applies if they sell their rights.
The issue comprises of 106,383,000 new shares and lifts the issued capital from Dh3.632 billion to Dh3.738 billion. An increase of about 2.9 per cent. The Dh16.45 price sits at a discount of about 28.8 per cent below the Dh23.10 closing price on August 24, the day before the board approved the plan. Major shareholders have committed to take up their entitlements.
Shareholders had approved the deal at a general assembly on October 6, after the Central Bank of the UAE and the Capital Market Authority signed off. ADIB says the proceeds will support its Vision 2035 strategy and strengthen its capital position. Its total assets stood at Dh304 billion at June 30.
ADIB is not the first UAE lender to ask shareholders for fresh capital. Abu Dhabi Commercial Bank’s rights issue closed on December 4, 2025, with funded commitments above Dh12 billion. ADCB described it as the largest rights issue by a company with a primary listing on the ADX. Emirates NBD also ran a similar rights issue back in 2019.
