Dubai: Dubai Islamic Bank said on Sunday its Dh1.64 billion rights issue will be priced at Dh3.11, about 43 per cent lower than the market price, based on DIB’s closing share price as of April 26, 2018.
The rights issue will increase the bank’s capital to Dh6.589 billion from the earlier Dh4.94 billion, the bank said in a statement posted on Dubai Financial Market’s website.
The rights will be given shareholders as of May 13 and they will get one right for every 3 shares held.
Trading of rights will happen May 16-30, and the new shares will be allocated on June 13.
