The lender issued 168 million new shares in order to support its growth.
Abu Dhabi Islamic Bank (ADIB) said on Monday that its $137.3 million (504 million dirham) rights issue was nearly three times covered by subscriptions.
The lender issued 168 million new shares in order to support its growth. The issue price was 3 dirhams.
Following the close of the subscription period on Sept. 10, all the shares were fully subscribed, with total bids from investors worth 1.46 billion dirhams, ADIB said in a statement.