Dubai: Dubai Islamic Bank on Sunday said it’s rights issue was over-subscribed 2.7 times, with subscriptions for the Dh5.1 billion issue totalling Dh14 billion.
The bank had announced a plan to issue 1.6 billion additional shares at price of Dh3.11 per share in April boost the core capital. More than 50 per cent of the issue was subscribed by foreign institutional investors.
“The numbers speak for themselves with returns remaining at the highest end of the market, which is obviously why investors continue to be attracted to the most liquid banking stock listed on the country’s exchange,” Dr Adnan Chilwan, Group CEO, DIB said in a statement.
