Doha - Mubasher: Doha Bank's board invited shareholders to subscribe in its capital increase shares through a rights issue.

Trading of the subscription rights will commence on 4 April and end on 17 April. The subscription period for shareholders and holders of subscription rights will start on 25 April and end on 9 May at 1:00pm Doha time, according to a bourse filing on Thursday.

By mid-November, Doha Bank recommended raising the current paid-up capital by 20%.

The ordinary general meeting (OGM) approved the board's proposal to increase the capital to QAR 3.1 billion from QAR 2.58 billion through offering 51.7 million shares for subscription for the company's shareholders with a closing date on 15 March.

Shares will be offered at a price of QAR 25 at a nominal value of QAR 10, plus issue premium for qualified shares of QAR 15, the statement said.

The capital amounts to QAR 2.58 billion, distributed over 258.4 million shares at a nominal value of QAR 10 per share.

The bank's profits fell 22.2% to QAR 1.054 billion in 2016 from QAR 1.354 billion in 2015.