Abu Dhabi Islamic Bank has set the execution timetable for its planned AED1.75 billion rights issue. Subscriptions will open on 10 November and close on 24 November 2026. The bank said it had received the required approvals from the Central Bank of the UAE and the Capital Market Authority.
The timetable follows shareholder approval of the capital increase on 6 October, a milestone previously reported by The Global Banker. ADIB plans to issue up to 106,383,000 new ordinary shares at AED16.45 each. Completion would increase issued share capital from AED3.632 billion to as much as AED3.738 billion.
RIGHTS TRADING PRECEDES SUBSCRIPTION
Shareholders registered on the 2 November record date will receive one right for every 34.14 existing shares. Investors buying ADIB shares must complete purchases by 29 October to allow for the Abu Dhabi Securities Exchange's two-day settlement period. The rights will trade on the exchange from 4 to 16 November.
Each right permits its holder to subscribe for one new share. The AED16.45 issue price comprises AED1.00 of nominal value and an AED15.45 premium, representing a 28.8% discount to ADIB's closing price on 24 August. Shareholders who do not subscribe may sell their rights during the trading window, while unexercised holdings will be diluted after issuance.
NEW SHARES TARGET DECEMBER LISTING
ADIB expects trading in the new shares to begin on 18 December. The bank will act as sole receiving bank, with subscriptions available through the ADX ePortal, participating branches and ADIB's mobile application. It said the proceeds would strengthen its capital base and support growth under its Vision 2035 strategy.
The bank reported total assets of AED304 billion at the end of the first half of 2026 and a 28% return on equity for the period. The rights issue remains scheduled rather than completed, so the amount ultimately raised will depend on subscriptions. The next substantive milestones are the 2 November record date, the close of subscriptions on 24 November and the expected 18 December listing.