United Arab Bank PJSC (UAB), listed on the Abu Dhabi Securities Exchange (ADX), announced that it proposes to raise its authorised capital by an amount up to Dhs1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from Dhs2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) to Dhs3,093,825,974 (three billion ninety-three million eight hundred twenty-fi.
Furthermore, United Arab Bank issued an invitation to its shareholders (the “Invitation”) to subscribe for new shares. Frequently asked questions about the Rights Issue will be posted on UAB’s website (http://www.uab.ae/) on or around today.
The New Shares will be issued at a price of Dhs1 per New Share (“Issue Price”). The UAB’s General Assembly Meeting on March 6, 2025, authorised the conditions and launch of the Rights Issue, which the Bank’s Board approved of Directors on February 4, 2025. The essential approvals from regulators have been received for this transaction.
United Arab Bank shareholders and anyone else who bought rights during the rights trading period (the “Eligible Persons”) are among the holders of rights who will be able to exercise their right to subscribe for new shares at the issue price starting on July 4, 2025, and ending on July 17, 2025.
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