Abu Dhabi – Mubasher: Shareholders at Abu Dhabi Islamic Bank (ADIB) are scheduled to hold an ordinary general meeting (OGM) on Sunday to discuss a capital increase by 168 million shares at par value of AED 1 per share in addition to AED 2 as issue premium.

The OGM will also tackle raise the ceiling for the Tier 1 non-convertible Sukuk from $2 billion to $3 billion or its equivalent in other currencies.

Priority in subscription to the capital increase will be given to current shareholders at 56 shares for every 1000 shares, following the approval of the relevant authorities, ADIB said in a bourse filing, adding that in the event of an incomplete quorum, a second meeting will be held on 28 June.