Abu Dhabi Islamic Bank (ADIB) on Tuesday announced that its rights trading period for AED 1 billion rights issue will start today 18 September.
Shareholders of the leading financial institution will have the option of trading the rights that are allocated to them through the Abu Dhabi Securities Exchange (ADX) during the period between 18 September and 2 October.
Rights will be traded under the symbol ‘ADIBRI18’, ADIB’s statement showed.
Moreover, Shareholders who are not interested to exercise all their rights and subscribe for the new shares during the trading period can sell their Rights to other investors.
The rights issue will increase ADIB’s issued and subscribed to share capital to AED 3.6 billion instead of AED 3.16 billion, the statement added.
As for investors who wish to secure more shares upon subscription, they may buy rights during the prior to 2 October.
The subscription period for the new shares will start on 25 September 25 until 9 October.
ADIB customers will have the option to subscribe via the bank’s mobile banking app, online banking or by visiting one of the ADIB branches.
By the end of Tuesday’s session, ADIB’s stock plunged 3.25% at AED 3.56.