ADIB’s 1st phase of capital increase subscribed by 93.48%: Egypt

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On October 5th, ADIB’s ordinary general meeting (OGM) approved an EGP 1 billion increase in the bank’s issued and paid-up capital

Staff Writer, Arab Finance

January 19, 2023

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Abu Dhabi Islamic Bank Egypt (ADIB) announced the subscription ratio for the first phase of its capital increase was covered by 93.48%, the bank said in a statement sent to the EGX on January 18th.

During the subscription first phase, 93.48 million shares were subscribed.

The remaining 6.519 million unsubscribed shares will be offered in the second phase.

On October 5th, ADIB’s ordinary general meeting (OGM) approved an EGP 1 billion increase in the bank’s issued and paid-up capital.

Accordingly, the bank’s issued and paid-up capital is set to increase to EGP 5 billion from EGP 4 billion through the issuance of 100 million shares at a par value of EGP 10 per share with issuance fees of EGP 0.05 for each share.

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