Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) said that an extraordinary general meeting will be held on 21 June after trading hours to discuss raising the bank’s capital by AED 168 million at par value of AED 1 per share in addition to AED 2 as an issue premium.

Priority in the capital increase will be given to current shareholders at 56 shares for every 1,000, following the approval of the relevant authorities, the bank said in a bourse filing on Thursday.

The Islamic bank’s shareholders will also discuss raising the ceiling of Tier 1 non-convertible bonds (sukuk) from $2 billion to $3 billion, or its equivalents in other currencies.

ADIB’s current capital amounts to AED 3 billion divided on 3 billion shares at par value of AED 1 per share.