United Arab Banks Rights Issue Successfully Subscribed By 124%
{{#if alert}}
{{msg}}
{{/if}} {{#if confirm}}
{{msg}}
{{/if}} {{#if email}}
Please enter a valid destination email id
{{/if}}
The bank plans to increase its capital by Dh687.5 million to Dh2.06 billion from the earlier capital of Dh1.38 billion
Dubai:
United Arab Bank (UAB) said on Monday its rights issue was subscribed 124 per cent, recieving Dh850 million of subscriptions.
The bank plans to increase its capital by Dh687.5 million to Dh2.063 billion from the earlier capital of Dh1.375 billion. The rights issue will be in the form of 687.5 million newly issued shares, with new shares priced at Dh1 per share.
“The oversubscription of the rights issue reflects the confidence that our shareholders have in the bank and its future endeavours. Our revised business model which is backed by the strong economy in the UAE positions us well to deliver sustainable returns for our shareholders going forward,” Shaikh Mohammad Bin Abdullah Al Nuaimi, Acting Chief Executive Officer said in a statement.
Money20/20 Middle East: Saudi Stock Market Value Surges To $2.67trn, CMA Chief Says
Saudi Arabia’s stock market approaching SR10tn ($2.67tn) in value as the CMA hosts Money20/20 Middle East Read more
HSBC Cashes In On Record HNWI Influx To UAE With Launch Of First Middle East Wealth Centre
HSBC has been expanding similar wealth hubs in China, Hong Kong, the UK, and more to serve clients who need multi-juris... Read more
Saudi Arabia Launches Google Pay
Saudi Central Bank launches Google Pay via mada, advancing Vision 2030 goals to boost digital payments, reduce cash rel... Read more
Next UAE Holiday Dates, Emirates ID Update, Dubai Tourism Boom And Real Estate Tax Analysis – 10 Things You Missed This Week
Catch up on the UAE’s biggest news this week — from new holidays and Emirates ID updates to Dubai tourism growth, r... Read more
UAE Credit Score: What Really Affects It? Experts Weigh In
Discover the hidden factors that could be silently destroying your UAE credit score – and the simple steps that could... Read more
Ajman New Professional Licences Up 37% In H1 2025 As New Investors Rise 24%
Ajman’s new professional licences surged 37 per cent in H1 2025, with new investors up 24 per cent and Ethiopia and S... Read more